Memo #
8342
ISSUES REGARDING THE INVESTMENT ADVISER PROVISIONS OF THE ""NATIONAL SECURITIES MARKETS IMPROVEMENT ACT OF 1996""
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1 See Memorandum to Investment Adviser Members No. 40-96 and Investment Adviser Associate Members
No. 38-96, dated October 2, 1996.
October 22, 1996
TO: INVESTMENT ADVISERS COMMITTEE No. 25-96
RE: ISSUES REGARDING THE INVESTMENT ADVISER PROVISIONS OF THE
""NATIONAL SECURITIES MARKETS IMPROVEMENT ACT OF 1996""
______________________________________________________________________________
We are pleased to inform you that Bob Plaze, Associate Director of the SECs Division of
Investment Management, will attend the beginning of next weeks Committee meeting to
discuss the investment adviser provisions of the "National Securities Markets Improvement Act
of 1996."1 In particular, he plans to discuss some of the interpretive issues that have arisen
under these provisions and that the SEC intends to address prior to their effective date. These
provisions are scheduled to become effective within 180 days from October 11, 1996, the date
the legislation was enacted.
In addition, the Institute has identified a number of issues regarding these provisions,
which will also be discussed at the upcoming meeting. A list of these issues is attached. Please
let me know if there are any additional issues you would like to discuss. My direct number is
202/326-5824 and my e-mail address is amy@ici.com.
Amy B.R. Lancellotta
Associate Counsel
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