SEC OPEN MEETING - WEDNESDAY, JANUARY 14, 2004 - 10:00 A.M.
The subject matter of the open meeting scheduled for Wednesday,
January
14, will be:
1. The Commission will consider whether to propose new Rule
204A-1
under the Investment Advisers Act of 1940 (Advisers Act).
The
proposed rule would require investment advisers to adopt
codes of
ethics that would set forth standards of conduct for
advisory
personnel, safeguard material nonpublic information about
client
transactions, and address conflicts that arise from
personal
trading by advisory personnel. The Commission will also
consider
whether to propose related amendments to Advisers Act Rule
204-2,
Advisers Act Form ADV, and Rule 17j-1 under the Investment
Company
Act of 1940.
For further information, please contact Robert Tuleya at
(202) 942-
0719.
2. The Commission will consider whether to propose amendments to
Rules
0-1, 10f- 3, 12b-1, 15a-4, 17a-7, 17a-8, 17d-1, 17e-1,
17g-1, 18f-
3, and 23c-3, to require investment companies that rely on
certain
exemptive rules to adopt certain governance practices.
The
Commission also will consider whether to propose an
amendment to
Rule 31a-2, the investment company recordkeeping rule, to
require
that investment companies retain copies of written materials
that
the directors consider when approving investment
advisory
contracts.
For further information, please contact Catherine E. Marshall
at
(202) 942-0719.
3. The Commission will consider whether to propose new Rules
15c2-2
and 15c2-3 under the Securities Exchange Act of
1934, and
amendments to the confirmation requirements of Rule 10b-10
under
that Act, to require improved disclosure to investors about
costs
and conflicts of interest arising from the distribution of
open-end
investment company shares, unit investment trust
interests and
municipal fund securities. The proposed new rules and
rule
amendments would require brokers, dealers and municipal
securities
dealers to provide investors with specific information
about
distribution-related costs and conflicts prior to
purchase
transactions involving those securities, and as part of
transaction
confirmations. The amendments would also expand
confirmation
disclosure of call provisions in debt securities and
preferred
stock.
The Commission will also consider whether to propose
amendments to
Form N-1A with respect to the disclosure of sales loads and
revenue
sharing payments.
For further information, please contact Joshua Kans at (202)
942-
0073 concerning Rules 15c2-2, 15c2-3 and 10b-10, and Tara
Royal at
(202) 942-7973 concerning Form N-1A.
AI
