ICI Recommends Ways to Prevent Unintended Processing Fees for Web Delivery of Fund Reports

The Investment Company Institute ("ICI") expressed support for the SEC-proposed Investment Company Act Rule 30e-3 that would permit the website transmission of mutual fund shareholder reports. The ICI provided recommendations for preventing the "absurd and unintended result" that an estimated $1 billion in potential cost savings for fund shareholders over the next 10 years alone could be erased by processing fees for the delivery of fund shareholder reports to broker-held accounts.