Investment Company Amendments Act of 1970

Investment Company Amendments Act of 1970

Legislation in the United States revising and expanding the Investment Company Act of 1940. Specifically, it set controls on mutual fund sales fees. The Act set a maximum load fee that a mutual fund may charge, and regulated withdrawal penalties on annuities. It limited the formation of fund holding companies and disallowed foreign holding companies from buying shares of investment companies.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Investment Company Amendments Act of 1970

An act that regulates sales charges and penalties on withdrawals from mutual fund accumulation plans. This Act sets the maximum load fee that may be charged to buyers of mutual funds and determines how the fees may be set in accumulation plans.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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