Working Group Prompts Backdown on Bloomberg Fund Admin Fees

The plan sought to sign up fund administrators to a new service provider agreement (SPA) for Bloomberg's Data License product, reclassifying them as data redistributors, since they redistribute prices to support the NAV calculations, to ensure Bloomberg's data is properly licensed and its intellectual property rights (IPR) are protected (IMD, Jan. 18).

User Concerns

The Bloomberg SPA contracts were initially set to become effective from Jan. 1 this year. Under the new contract, fund administrators