Closed-End Investment Company Content

In October, the SEC re-opened the comment period for its 2015 clawback proposal,[2] which it never adopted. ICI intends to submit a comment letter. If you have comments on the attached draft, please provide them by November 18, COB.

Last week, the SEC reopened the comment period for its 2015 clawback proposal, which it never adopted. This will allow further opportunity to analyze and comment on the proposal in light of developments since its publication.

The next meeting of the Closed-End Investment Company Committee will take place via Zoom teleconference on Monday, November 8. The meeting will begin at 1:00 pm (Eastern) and end at approximately 3:00 pm (Eastern).

The Investment Company Institute and Nareit submitted the attached letter to the Internal Revenue Service (IRS) requesting a delay to the mandatory use of the new boxes (2e and 2f) on IRS Form 1099-DIV to report section 897 gain attributable to US real property interests (USRPIs).

The OBO/NOBO Working Group, an industry working group created at the SEC staff's request, yesterday submitted the attached report to the SEC staff ("Report"). Significantly, Working Group participants representing broker-dealers, public companies, and funds agreed that the SEC should...

The primary, secondary, and NRA layouts (all in excel spreadsheet form) for use by regulated investment companies ("RICs") in reporting 2021 year-end tax information to brokers and banks are available on the Institute's website.

As previously reported, the Securities and Exchange Commission re-opened the comment period for its 2016 universal proxy proposal, which would amend the proxy rules to mandate the use of universal proxy cards in contested director elections. As proposed, the amendments would apply the...

Last month, the Securities and Exchange Commission re-opened the comment period for its 2016 universal proxy proposal. The proposal would amend the proxy rules to mandate the use of universal proxy cards in contested director elections at shareholder meetings.