Memo #
2926
SECURITIES AND INVESTMENTS BOARD ISSUES RULES REGARDING NEW TYPES OF UNIT TRUSTS, COLD CALLING
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July 12, 1991
TO: INTERNATIONAL COMMITTEE NO. 14-91
RE: SECURITIES AND INVESTMENTS BOARD ISSUES RULES REGARDING
NEW TYPES OF UNIT TRUSTS, COLD CALLING
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Attached is a copy of the latest monthly report prepared
for the Institute by Norton Rose. It discusses new regulations
published by the U.K.'s Securities and Investments Board that
will permit four new types of authorized unit trusts: property
funds, futures and options funds, geared futures and options
funds and warrant funds. The report also describes new "cold
calling" regulations which will apply to all authorized persons
and more restrictive cold calling rules that will apply to
solicitations by overseas (i.e. unauthorized) investment
businesses.
Frances M. Stadler
Assistant General Counsel
Attachment