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Written Testimony of Investment Company Institute at Nov. 18 Hearing on Mutual Fund Industry Reforms (PDF)
Committee on Banking, Housing and Urban Affairs, U.S. Senate 
Nov. 19, 2003
25 pages. Excerpt: The most effective solution to this problem would be to require that all purchase and redemption orders be received by a fund (or its transfer agent) before the time of pricing (e.g., 4:00 p.m. Eastern time). While such a requirement could have a significant impact on the many investors who own mutual funds through financial intermediaries, the recent abuses indicate that the strongest possible measures are necessary to ensure investor protection.
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