The Investment Company Institute has prevailed in its dispute with the Securities Industry Association over a proposed change in the law which prohibits transactions between a broker/dealer and its affiliated mutual funds.

The SIA has withdrawn proposed legislation which would have amended section 17(a) of the Investment Company Act to permit broker/dealers to buy from and sell to their affiliated funds readilytraded securities. The SIA had contended the change ultimately could save mutual fund shareholders money.

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