The National Association of Securities Dealers has formed a 22-member joint mutual fund and brokerage industry task force on fund breakpoints.

The breakpoint task force, which will include members of academia, brokerage firms, transfer agents, the New York Stock Exchange, the NASD, the Securities Industry Association and mutual fund firms, will be chaired by Mary L. Schapiro, vice chairman and president of regulatory policy and oversight at the NASD.

Craig S. Tyle, general counsel of the Investment Company Institute will be among the three other individuals spearheading the task force.

Also on board are several mutual fund industry notables: Karnig H. Durgarian, senior managing director at Putnam Investments, Terry Glenn, chairman of the Americas and president of Merrill Lynch Funds, Tony Green, president of AIM Fund Services, Paul G. Haaga, Jr., EVP of Capital Research and Management Co., adviser to the American Funds, George Hrabovsky, president of Alliance Global Investor Services, and Jeffrey M. Lyons, EVP of Charles Schwab.

Also agreeing to serve on the task force are Barry P. Barbash, partner with Shearman & Sterling and former director of the SEC's Division of Investment Management and Ann Bergin, managing director, mutual fund services, Depository Trust & Clearing Corporation.

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