WASHINGTON - The Securities and Exchange Commission is going to request more information from funds as part of a new initiative to detect market-timing activities, according to speakers at the recent Practising Law Institute "SEC Speak" conference held here last Saturday.

"It is very difficult to impose redemption fees on activity controlled by omnibus accounts," said Robert E. Plaze, an associate director in the SEC’s division of investment management. Omnibus accounts combine the assets of many accounts into one. However, the drawback from the regulatory standpoint is that it is difficult to discern which of the underlying investors are selling in or out of a fund since the transaction is coming from the combined omnibus account.

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