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13 Prac. Law. 3 (1967)

handle is hein.ali/praclaw0013 and id is 1 raw text is: A]I -Af A Books & coutpses MUTUAL FUNDS COURSE T HE Securities and Exchange Commission's long-awaited Re- port on Mutual Funds will form the substance of a special national con- ference to be conducted and cospon- sored by the University of Pennsyl- vania Law School and the ALI- ABA Joint Committee on Thurs- day and Friday, February 9 and 10, 1967. The Report, fairly described as the Special Study of the Mutual Fund Industry, contains a wealth of factual information about, and detailed analysis of, industry prac- tices, as well as numerous proposals for changes in the regulatory frame- work governing the mutual fund industry. Subjects One of the subjects covered will be the regulatory implications aris- ing out of the role of mutual funds as investors of huge pools of money. A panel will discuss such questions as the potential control by funds over their portfolio companies, the impact of mutual fund investment transactions on stock prices and on the securities markets, including the auction market, and the ability of large funds to retain sufficient mo- bility to manage their portfolios. Management fees charged mutual funds and the financing of the dis- tribution of fund shares will also be considered. Another panel will discuss prob- lems relating to the size of sales loads, the collection of sales loads through the front-end load system, the use of reciprocal business to re- ward selling efforts, and the subsidy of selling efforts by the profits earned on managing fund assets. Faculty Professor Robert H. Mundheim of the University of Pennsylvania Law School serves as Planning Chairman and Moderator for the Conference.