Re: SEC and Early Redemption Fees

> When the SEC proposes regulations, they are circulated for comment as
> well.  See: http://www.sec.gov/rules/proposed.shtml

I don't see it there yet, but sources say they have proposed the
late trading ban, and in Feb look for mandatory late trade fees:
http://biz.yahoo.com/rb/031203/financial_sec_mutualfunds_5.html

What will this mean in practice buying thru a brokerage or mutual
fund company?  Will investors have to put in an order 15 min or 1
or umpteen hours ahead of time, meanwhile the fund price takes a
1, 2, or 3% ride before closing price is set?

I hope the mandatory late trading fee doesn't exceed a rumoured
5 day span - sometimes you may find you bought into a wrong fund
due to misleading info for example, and want to get out fast.

It's not just mal-intentioned practices these rules are affecting;
rather they smell of overkill nanny-state restrictions.  A better
way of dealing late traders was dropped by SEC according to another
source.  Feed back criticisms to SEC site when rule pops up (and
maybe consider fleeing to etf's).