WASHINGTON - The leading trade group for broker/dealers is hoping to reach an agreement with the Investment Company Institute on a proposal modifying the rules which prohibit transactions between a broker/dealer and a mutual fund.

The SIA has had some "communications" with the ICI in hopes that the two trade groups could agree on a proposal to revise the provision in the Investment Company Act which prohibits affiliated transactions, said Michael D. Udoff, associate general counsel of the Securities Industry Association, last week. Udoff declined to comment on specifics, but said the SIA hopes to "find some common ground" on the issue.

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