In another action, an exposure draft of a proposed statement of position, Financial Highlights of Separate Accounts: An Amendment of the Audit and Accounting Guide Audits of Investment Companies
, provides guidance on reporting financial highlights by separate accounts of insurance enterprises.
The SOP applies to investment companies
that adopt plans complying with rule 270.
Section 12(d)(1)(A) prohibits an investment company from acquiring more than three percent of the total outstanding voting stock of another investment company, investing more than five percent of its total assets in a single investment company, and investing more than 10 percent of its total assets in two or more investment companies
The court concluded that the term "investment company" includes only regulated investment companies
Several types of investment companies
exist: management investment companies
, unit investment trusts,.
In order to ensure that the level of SEC resources devoted to investment company regulation remains adequate in the coming years, the Institute recommends that a portion of the revenue generated by the SEC registration fees paid by investment companies
be dedicated to this purpose.
Although this SOP focuses on high-yield debt securities (junk bonds), certain guidance also applies to other debt securities held as investments by investment companies
The SEC's rules require federally registered investment advisers and investment companies
to have codes of ethics covering their personnel with access to trading information, and the codes of ethics must require the access persons to report their securities trades, with certain exceptions for trades in securities with little opportunity for improper trading.
This course provides a detailed discussion of the different types of investment companies
, with particular emphasis on mutual funds including their investment objectives, fees and expenses, the services they provide to investors and taxation issues associated with these funds.
As a result of the capital resources that we have made available to these portfolio investment companies
, they are now able to successfully execute their business plans, adding significant value to each company.
Bickel commented, "As our portfolio investment companies
continue to grow in value, we are pleased to present their latest accomplishments in the June 2005 investor newsletter.
SAN DIEGO -- The Western Regional Association of Small Business Investment Companies
(WERASBIC) honored San Diego-based CEYX(R) Technologies, Inc.
Chairman and chief executive officer Chris Bickel will participate in this call while on his three-week trip to China in support of portfolio investment companies
SINO UJE and Redwood Capital.
As a firm with significant experience with investment companies
and their unique filing requirements, Javelin will also maintain Unico's compliance handbook, which addresses all aspects of investment company governance, particularly as it relates to the Investment Company Act of 1940.
We project significant progress for our investment companies
over the coming months, and we will continue to keep our shareholders and the public markets informed as important milestones are reached," commented Chris Bickel, chief executive officer of S3 Investment Company.