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Market Timing Settlement Funds Avoid Information Reporting, Backup Witholding Requirements  


Author:  Staff Editors.


Source: Volume 20, Number 04, March/April 2007 , pp.48-51(4)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

In PLR 200701001, a qualified settlement fund (QSF) was created to resolve an administrative proceeding brought by the Securities and Exchange Commission against “X, Y, and Z” concerning investment advice to certain mutual funds. X and Y were investment advisors, while Z was described as a distributor. The proceeding related to inadequate or nonexistent disclosure of the policies of X, Y, and Z to allow market timing trades of mutual fund units in Years 1 through 4. QSF was established in Year 5.

Keywords: PLR 200701001

Affiliations:  .

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