January 29, 1990
TO: SEC RULES MEMBERS NO. 8-90
CLOSED-END FUND MEMBERS NO. 5-90
UNIT INVESTMENT TRUST MEMBERS NO. 9-90
OPERATIONS MEMBERS NO. 4-90
RE: FOREIGN PORTFOLIO INVESTMENT SURVEY; REPORTING
REQUIREMENTS
__________________________________________________________
The Treasury Department is conducting a survey of foreign
portfolio investment in the United States. The study will be
used to determine the magnitude and aggregate value of foreign
portfolio investment, form of investments, types of investors,
nationality and residence of investors, diversification of
holdings by economic sector and holders of record.
Reports are due by all persons who are required to file by
June 30, 1990. All investment companies (regardless of whether
there is evidence of foreign investment) which had total
consolidated assets of more than $1 billion are required to
report. In addition, certain smaller issuers that have been
contacted by Treasury and have total consolidated assets of at
least $10 million must also report.
If your firm falls within the classification of issuers
that are required to report and you have not received the
necessary forms for doing so, you should contact the Department
of the Treasury at the number indicated on the attached release
to obtain a copy of the forms and instructions. Failure to file
the report could result in enforcement proceedings against your
firm.
Amy B. Rosenblum
Assistant General Counsel
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