1 See Memorandum to Closed-End Fund Committee No. 15-96, SEC Rules Committee No. 56-96, dated June 10, 1996.
July 25, 1996
TO: CLOSED-END FUND COMMITTEE No. 19-96
SEC RULES COMMITTEE No. 76-96
RE: INSTITUTE COMMENTS ON PROPOSED DISCLOSURE SIMPLIFICATION
______________________________________________________________________________
As we previously advised you, the Securities and Exchange Commission recently
proposed several rule amendments that would implement certain recommendations of the
SECs Task Force on Disclosure Simplification.1 Attached is a copy of the Institutes comment
letter on the proposal.
The Institutes letter expresses strong support for the two rule amendments that would
affect investment companies. The letter supports the Commissions proposal to eliminate the
five day pre-broadcast filing requirement for investment company prospectuses consisting of
radio or television broadcasts. In addition, the letter supports the Commissions proposal to
eliminate the requirement that issuers with securities listed on an exchange file a Form 8-A
under the Securities Exchange Act of 1934.
Dorothy M. Donohue
Assistant Counsel
Attachment