529 College Investment Plans are regulated by the Municipal Securities Rulemaking Board (MSRB). Because 529 plans have the same characteristics as mutual funds, the rules and regulations concerning them are similar to those that regulate mutual funds. In fact, the MSRB works closely with the NASD to ensure that 529 plan regulations and mutual fund regulations resemble each other as much as possible. One rule that applies to 529 plans but not to mutual funds is that your broker must inform you about any tax benefits or other benefits of investing in your own state's 529 plan when you make your investment. If you were unaware of this information when you purchased your 529 plan, contact the MSRB to file a complaint.

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