<nobr>Apr 30, 2004</nobr>

SEC Letter Responding to Hard 4PM Close (to Congress)

Attached is a response from SEC Chairman William Donaldson to a March 22 letter signed by several members of the House of Representatives that outlined potential problems for retirement plans and participants if the SEC were to implement its proposed "hard 4pm" cut off for receipt of mutual fund purchase and redemption orders. The March 22 letter is available on ERIC OnLine at http://www.eric.org/forms/documents/DocumentFormPublic/viewDoc?id=2F8A00000009. The Donaldson letter indicates that the SEC is considering alternatives to the proposed rule.

We will continue to monitor the SEC's response to the comments on the proposed rule and notify you of any additional developments.


Text Files:

Donaldson Letter

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