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Mutual Fund Sales & Trading

Task Force Reports Report of the Mutual Fund Task force on Mutual Fund Distribution Sample Profile Plus Investor Usability Testing Report Status Report: Implementation of Recommendations Soft Dollars and Portfolio Transaction Costs Report of the Joint NASD/Industry Task Force on Breakpoints Report of the Omnibus Task Force (market timing in mutual funds)

News 9/23/05 Speech by Robert Glauber, Chairman and CEO, NASD, at the SIA Soft Dollars and Institutional Brokerage Conference in New York, NY 4/13/05 NASD Foundation Funds CFA Project to Increase Investor Knowledge of Mutual Funds 4/04/05 NASD Endorses Concise, Web-Based Point of Sale Mutual Fund Disclosure 3/23/05 NASD Fines Citigroup Global Markets, American Express and Chase Investment Services More Than $21 Million for Improper Sales of Class B and C Shares of Mutual Funds 2/16/05 NASD Charges American Funds Distributors, Inc. with Arranging $100 Million in Directed Brokerage Commissions for Top Sellers of American Funds All Past News Releases

Rulemaking Disclosure of Fees and Expenses in Mutual Fund Performance Sales Material (SR-NASD-2004-043) NASD Comment Letter to SEC Regarding Disclosure for Transactions in Certain Mutual Funds and Other Securities

Education & Training Classroom Learning: Mutual Funds and Regulation Webcast: Mutual Funds: Share Classes & Breakpoint Discounts Breakpoints Training Outline

FINRA Investor Resources Information About Mutual Funds: Classes, NAV Transfers, Breakpoints, Online Tools and More Investor Alerts on Mutual Funds Mutual Fund Breakpoint Search Tool FINRA Mutual Fund Expense Analyzer

Notices to Members & Guidance Notice to Members 05-04 Notice to Members 04-72 ICI Letter to Members Regarding the Breakpoint Refund Process (4/4/04) Member Alert: Missed Breakpoint Discounts (03/30/04) Notice to Members 03-77 Disclosure of Mutual Fund Expense Ratios in Performance Advertising: NASD Requests Comment on Proposed Amendments to Rules 2210 (Communications With the Public) and 2211 (Institutional Sales Material) (12/09/03) Notice to Members 03-50 NASD Reminds Member Firms of their Obligations Regarding Mutual Fund Transactions and Directs Review of Policies and Procedures (09/05/03) Notice to Members 03-48 SEC Approves Extension of Pilot Relating to Bond Mutual Fund Volatility Ratings (08/28/03) Notice to Members 03-47 Refunds to Customers Who Did Not Receive Appropriate Breakpoint Discounts in Connection with the Purchase of Class A Shares of Front-End Load Mutual Funds and the Capital Treatment of Refund Liability (Notice posted on 08/25/03) Special Notice to Members 02-85 Mutual Fund Purchases and Breakpoint Schedules Notices to Members Subject Index

Tools & Resources Mutual Fund Breakpoint Search Tool FINRA Mutual Fund Expense Analyzer Task Force recommendations regarding common definitions for mutual funds to use in describing breakpoint discount rules Task Force recommendations regarding confirmation content, including breakpoint legends and disclosing sales charges Interest Refund Calculator helps member firms determine interest due on missed breakpoint discounts Breakpoint Checklist and Worksheet helps members and associated persons gather the information necessary to deliver breakpoint discounts on sales of Class A shares of front-end load mutual funds New Customer Notification Letters and Customer Breakpoint Claim Forms Sample Written Disclosure Statement that should be given to customers who purchase mutual funds Frequently Asked Questions