[Federal Register Volume 64, Number 87 (Thursday, May 6, 1999)]
[Rules and Regulations]
[Page 24488]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11356]
[[Page 24487]]
Part VI
Securities and Exchange Commission
_______________________________________________________________________
17 CFR Part 270
Custody of Investment Company Assets Outside the United States;
Extension of Compliance Date; Proposed and Final Rules
Federal Register / Vol. 64, No. 87 / Thursday, May 6, 1999 / Rules
and Regulations
[[Page 24488]]
SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 270
[Release Nos. IC-23814, IS-1193; File No. S7-23-95]
RIN 3235-AE98
Custody of Investment Company Assets Outside the United States;
Extension of Compliance Date
AGENCY: Securities and Exchange Commission.
ACTION: Final rule; extension of compliance date.
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SUMMARY: The Commission is extending the compliance date for certain
amendments to the rule under the Investment Company Act that governs
the custody of investment company assets outside the United States. In
a companion release, the Commission is proposing amendments to that
rule, and is proposing a new rule under the Act. The proposed
amendments and new rule would establish new standards governing the
maintenance of an investment company's assets with a foreign securities
depository.
DATES: The effective date of the rule amendments published on May 16,
1997 (62 FR 26923) remains June 16, 1997. Effective May 1, 1999, the
compliance date for those rule amendments, except for the amended
definition of an ``eligible foreign custodian,'' is extended from May
1, 1999 until May 1, 2000, or until a date to be announced by the
Commission when it takes further action on the amendments proposed in
the companion release. The compliance date for the amended definition
of an ``eligible foreign custodian'' was June 16, 1998.
FOR FURTHER INFORMATION CONTACT: Thomas M.J. Kerwin, Senior Counsel, or
C. Hunter Jones, Assistant Director, Office of Regulatory Policy, at
(202) 942-0690, in the Division of Investment Management, Securities
and Exchange Commission, 450 5th Street NW, Washington DC 20549-0506.
SUPPLEMENTARY INFORMATION: The Commission is extending the compliance
date for certain amendments to rule 17f-5 (17 CFR 270.17f-5) under the
Investment Company Act of 1940 (15 U.S.C. 80a) (the ``Investment
Company Act''). In a companion release, the Commission is proposing
amendments to rule 17f-5, a new rule 17f-7, and conforming amendments
to rule 7d-1 (17 CFR 270.7d-1) and rule 17f-4 (17 CFR 270.17f-4) under
the Investment Company Act. See Investment Company Act Release No.
23815 (Apr. 29, 1999).
Dated: April 29, 1999.
By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-11356 Filed 5-5-99; 8:45 am]
BILLING CODE 8010-01-P
