March 28, 1991
TO: STATE LIAISON COMMITTEE NO. 10-91
RE: DRAFT AGENDA FOR APRIL MEETING
__________________________________________________________
Attached is a draft agenda for the State Liaison Committee
meeting to be held Friday, April 19, 1991, 10:00 a.m. at the
Capital Hilton.
Inasmuch as the Institute has received several calls from
members regarding comments issued by the staff of the Texas
Securities Board, we thought it would be appropriate to include
Texas as an agenda item. It is our understanding that the Texas
Securities Board has recently instituted a policy of reviewing
all renewal applications, as well as initial applications, for
registration of mutual fund securities and routinely issuing
comment letters. In addition to issuing comments regarding a
fund's compliance with the investment restrictions contained in
the Texas Administrative Code (i.e., limitations on investing in
illiquid securities, warrants, real estate, etc.), the staff has
expanded the scope of their comments to other issues as well. At
the meeting, we would like to discuss how funds have responded to
and/or resolved the issues raised by the staff of the Securities
Board.
I look forward to seeing you next month.
Patricia Louie
Assistant General Counsel
Attachment