The SEC will launch an outreach program to increase communication between chief compliance officers at mutual funds and securities regulators, Chairman William Donaldson said today at the Investment Company Institute's annual mutual funds and investment conference in Palm Desert, Calif. The agency will host regional seminars beginning in late spring or early summer. They will be followed by a national seminar in Washington in early fall, which will include presentations by SEC staff on topics that come from the regional seminars. The SEC will also introduce a newsletter to communicate new rules, recent findings and enforcement actions and establish a hotline so CCOs can call with complaints and concerns.
Mr. Donaldson also said the SEC is looking at alternatives to its hard 4 p.m. close. He added the agency will introduce a proposal later this year about giving investors better information about transaction costs.