Get on the Omnibus

摘要

The sec believes that the key to an effective market is transparency, and it is under that philosophy that the regulator expects mutual fund companies and their investors to offer a window into the previously opaque activity of omnibus accounts. On Oct. 16, mutual funds must be compliant with SEC Rule 22c-2, which requires the board of trustees of mutual fund companies to determine if short-term redemption fees are necessary to prevent market-timing abuses.