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News October 30, 2006 Issue

SEC and NASAA Announce IARD Fee Waivers

The SEC and the North American Securities Administrators Association have extended the waiver of annual IARD fees for another two years. For firms with $100 million or more in assets under management, thatís a savings of $550 per year.

In addition, the SEC and NASAA will waive initial IARD set-up fees for new advisers until October 31, 2008.

NASAA also announced that it will reduce the initial and renewal IARD fees paid by investment adviser reps to $30, down from $45, for the next two years.