New Rules 38a-1 and 206(4)-7 for Investment Companies and Advisers
Mondaq Business Briefing › United States Law Articles in English (2004)
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New Rules 38a-1 and 206(4)-7 for Investment Companies and Advisers
Newly adopted rules will require each investment company and investment adviser registered with the Commission to implement policies and procedures designed to prevent violation of the federal securities laws, and designate a chief compliance officer ("CCO") to administer them. The policies and procedures and CCO must be in place by October 5, 2004.
Investment Companies Policies and Procedures New rule 38a-1 requires fund boards to adopt written policies and procedures reasonably designed to prevent the fund from violating the federal securities laws. The procedures must provide for the board and its designated CCO to oversee compliance by the...See the full content of this document
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