The April 16 deadline for fund companies and their intermediaries to ink information-sharing agreements in compliance with Rule 22c-2 has set off a flurry of negotiations and shifted attention to the next component of the rule: data analysis.

First adopted in 2005, the redemption fee rule calls for fund boards to consider charging investors a fee of as much as 2% for redeeming shares within a week of purchasing them. It also requires companies to monitor trades made through intermediaries, such as retirement plans, and to have agreements with those intermediaries to access shareholder information-such as Social Security numbers or other unique identifiers-to spot, and hopefully halt, market timing.

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