[12096]
June 23, 2000
TO: CLOSED-END INVESTMENT COMPANY COMMITTEE No. 20-00
RE: NYSE PROPOSAL REGARDING CLOSED-END FUND ORIGINAL LISTING FEES
The Securities and Exchange Commission (“SEC”) has published for comment a proposed rule
change filed by the New York Stock Exchange (“NYSE”)1 amending its listed company fee schedule to
adopt a minimum original listing fee for each new closed-end fund. In particular, each new closed-end
fund would be subject to a minimum original listing fee based upon the number of shares outstanding,
with fees of $100,000 for offerings up to 10 million shares; $125,000 for offerings up to 24 million
shares; and $150,000 for offerings over 24 million shares. This minimum listing fee would include the
NYSE's one-time special charge of $36,800.
Comments on this proposal are due to the SEC no later than July 24, 2000. If you have any
comments on the proposal, please provide them to Ari Burstein by phone at (202) 371-5408, by fax
at (202) 326-5839, or by e-mail at aburstein@ici.org no later than July 14.
Ari Burstein
Assistant Counsel
Attachment
Attachment (in .pdf format)
1 Securities Exchange Act Release No. 42948, 65 FR 39216 (June 23, 2000), a copy of which is attached.