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August 1, 2000
TO: INVESTMENT COMPANY DIRECTORS No. 13-00
PRIMARY CONTACTS - MEMBER COMPLEX No. 52-00
SEC RULES COMMITTEE No. 103-00
RE: INSTITUTE OFFERS INVESTMENT COMPANY DIRECTOR'S GUIDE TO CODES OF
ETHICS
The Institute recently issued a new guide for investment company directors, An Investment
Company Director’s Guide to Oversight of Codes of Ethics and Personal Investing. The Guide focuses
on directors’ duties with respect to codes of ethics and their oversight of the personal investing activities
of investment company personnel. It summarizes applicable statutory and regulatory requirements and
describes the recommendations of an industry Advisory Group as to a number of additional provisions for
codes of ethics that go beyond regulatory requirements.
A copy of the Guide is enclosed. Additional copies can be obtained by contacting Sally Coleman
at 202/326-5872.
Marguerite C. Bateman
Associate Counsel
Enclosure