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What Will USA PATRIOT Act CIP Requirements Cost Mutual Funds? Upwards of $13 per New Relationship


Published Date: July 2003
Published By: TowerGroup
Page Count: 12
Order Code: R301-0359
 
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The USA PATRIOT Act adds costs to the process of servicing mutual fund accounts. TowerGroup estimates the additional costs incurred will result in total first year costs to the mutual fund industry of $288 million and ongoing annual expenses of $140 million per year.

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