April 3, 1989
TO: BOARD OF GOVERNORS NO. 20-89
SEC RULES COMMITTEE NO. 18-89
RE: INSTITUTE SUGGESTIONS TO SEC STAFF REGARDING PENDING
REGULATORY MATTERS
__________________________________________________________
As you know, the Institute regularly requests SEC staff
action regarding matters of current concern to the industry. At
the request of the SEC staff, the Institute recently provided the
staff with a compilation of outstanding matters and met with the
staff to discuss these matters.
Attached hereto is a letter from the Institute to the staff
setting forth five priorities for action by the Commission and
its staff: the timeliness requirement for the adviser's balance
sheet in fund proxy statements; fund investment in securities of
foreign securities firms, banks and insurance companies; money
market funds' freedom to concentrate in securities of foreign
banks; use of the name "tax-exempt"; and investment in public
utility companies and public utility holding companies.
We will keep you advised of further developments.
Matthew P. Fink
Senior Vice President
and General Counsel
Attachment