The administration and enforcement of those provisions of the act which regulate the relationships and transactions of persons who are affiliated with investment companies 5.Matters relating to the distribution, redemption, and re purchase of securities issued by management companies 6.Reorganizations of investment companies 7.The treatment accorded certain special types of com panies, such as investment trusts, periodic-payment plans, and face-amount certificate companies. On the whole, the framers of the Investment Company Act did a good job. The regulators and the industry have not always seen eye to eye, but they have worked together to set standards and precedents which have made for democracy in finance.

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