SEC Approves Liberalized Listing Standards for MFQS


Changes for Mutual Fund Quotation Service Approved

By John M. Baker, Esq.

October 13, 2000 – The SEC today published in the Federal Register its approval of the Nasdaq’s liberalized listing standards for the Mutual Fund Quotation Service. Release No. 34-42417, 65 Fed. Reg. 61,012 (Oct. 5, 2000).

The new rule substantially reduces the asset requirements for closed-end funds that wish to report their net asset value per share on the MFQS. Under the new standard, closed-end funds may be included in the main News Media List if they have initial net assets of at least $60 million (formerly $100 million), and they must maintain net assets of at least $30 million (formerly $60 million).

In addition, both open-end and closed-end funds now may be included in the Supplemental List if their investment adviser has at least $15 million in fund assets under management (including at least one fund with net assets of $10 million or more).

Pricing information about funds on the Supplemental List generally is not included in newspaper fund tables, but is disseminated over Nasdaq’s Level 1 Service.

Federal Register documents may be downloaded from

Copyright 2000, John M. Baker, Esq., Stradley, Ronon, Stevens & Young, LLP, 1220 19th Street, N.W., Suite 700, Washington, DC 20036 – (202) 822-9611- Fax (202) 822-0140 This article was originally posted to the FundLaw List, To subscribe to FundLaw, send a blank e-mail to

Nothing herein is intended as legal or financial advice. The law is different in different jurisdictions, and the facts of a particular matter can change the application of the law. Please consult an attorney or your financial advisor before acting upon the information contained in this article.

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