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New fund-of-funds rules set (U.S.)

Date: Tuesday, December 5, 2006
Author: InvestmentNews.com

Securities regulators have adopted several new rules and amendments that affect so-called fund of fund arrangements. The new provisions will allow, under certain circumstances, mutual funds to acquire shares of other funds and investment companies without having to seek prior approval from the SEC. The rules took effect July 31; amendments relating to disclosure requirements on certain regulatory forms go into effect Jan. 2. For details, go to http://sec.gov/rules/final/2006/33-8713.pdf