30 pages. Excerpt: [O]n December 3, the Commission will consider the staff's proposal to require that a fund (or certain designated agents)-- rather than an intermediary such as a broker-dealer or other unregulated third party-- receive a purchase or redemption order prior to the time the fund prices its shares (typically, 4 PM) for an investor to receive that day's price. This 'hard' 4 o'clock cut-off would effectively eliminate the potential for late trading through intermediaries ...

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