Closed-End Investment Company Content

[11648] February 16, 2000 TO: CLOSED-END INVESTMENT COMPANY COMMITTEE No. 6-00 RE: NOTICE OF MEETING - APRIL 5, 2000 ______________________________________________________________________________ A meeting of the Closed-End Investment Company Committee has been scheduled for Wednesday...

1 Pursuant to this election, a US shareholder generally includes in income each year an amount equal to the excess, if any, of the fair market value of the shareholder’s PFIC stock as of the close of the taxable year over the shareholder’s adjusted basis in such stock. Deductions for...

1 See Memorandum to Board of Governors No. 26-98, Closed-End Investment Company Members No. 13-98, and SEC Rules Members No. 33-98, dated May 12, 1998. 2 See Strougo v. Padegs, 964 F.Supp. 783 (S.D.N.Y. 1997). This decision held that, for purposes of Maryland law, receipt of directors...

1 Securities Exchange Act Release No. 42325 (January 10, 2000), 65 FR 2656 (January 18, 2000) (“Proposing Release”). 2 The current Interpretation defines a “hot issue” as any security that trades “at a premium” whenever secondary market trading begins. The NASD and the SEC have stated...

* See Memorandum to Closed-End Investment Company Committee No. 44-99, Investment Advisers Committee No. 16- 99, Operations Committee No. 43-99, SEC Rules Committee No. 96-99, Small Funds Committee No. 18-99, Transfer Agent Advisory Committee No. 70-99, and Unit Investment Trust...

1 Securities Exchange Act Release No. 42266 (December 22, 1999), 64 FR 73389 (December 30, 1999) (“Release”). 2 Securities Exchange Act Release No. 42233 (December 14, 1999), 64 FR 71529 (December 21, 1999). 3 Securities Exchange Act Release No. 42231 (December 14, 1999), 64 FR 71523...

[11506] December 31, 1999 TO: CLOSED-END INVESTMENT COMPANY COMMITTEE No. 53-99 INVESTMENT ADVISERS COMMITTEE No. 21-99 SEC RULES COMMITTEE No. 115-99 UNIT INVESTMENT TRUST COMMITTEE No. 34-99 RE: SEC SEMI-ANNUAL REGULATORY AGENDA ______________________________________________________...

1 Securities Act Release No. 7787 (December 20, 1999), 64 FR 72590 (December 28, 1999) (“Release”). A copy of the Release is attached. [11500] December 29, 1999 TO: CLOSED-END INVESTMENT COMPANY COMMITTEE No. 52-99 EQUITY MARKETS ADVISORY COMMITTEE No. 41-99 SEC RULES COMMITTEE No...

[11496] December 28, 1999 TO: PENSION MEMBERS No. 51-99 PENSION OPERATIONS ADVISORY COMMITTEE No. 61-99 RE: IRS ANNOUNCEMENT REGARDING SECTION 457 PLAN REPORTING ______________________________________________________________________________ The Internal Revenue Service has released...

* See Memorandum to Closed-End Investment Company Committee No. 35-99, Director Services Committee No. 25-99 and SEC Rules Committee No. 79-99, dated October 19, 1999 and Memorandum to Small Funds Committee No. 15-99, dated October 22, 1999. [11498] December 29, 1999 TO: CLOSED-END...