[Federal Register Volume 60, Number 142 (Tuesday, July 25, 1995)]
[Sunshine Act Meetings]
[Pages 38078-38079]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-18336]



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SECURITIES AND EXCHANGE COMMISSION

Agency Meetings
    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
July 24, 1995.
    An open meeting will be held on Thursday, July 27, 1995, at 10:00 
a.m. A closed meeting will be held on Thursday, July 27, 1995, 
following the 10 a.m. open meeting.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meetings. 
Certain staff members who have an interest in the matters may also be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(4), (8), (9)(A) and (10) 

[[Page 38079]]
and 17 CFR 200.402(a)(4), (8), (9)(i) and (10), permit consideration of 
the scheduled matters at the closed meeting.
    Commissioner Wallman, as duty officer, voted to consider the items 
listed for the closed meeting in a closed session.
    The subject matters of the open meeting scheduled for Thursday, 
July 27, 1995, at 10 a.m., will be:

    1. Consideration of whether to propose for public comment 
amendments to rule 17f-5 under the Investment Company Act of 1940, 
the rule that governs the custody of investment company assets 
outside the United States. The amendments would revise the findings 
that currently must be made in establishing foreign custody 
arrangements to focus exclusively on the safekeeping of investment 
company assets, permit a company's board of directors to delegate 
its responsibilities under the rule to evaluate these arrangements, 
and expand the class of foreign banks and securities depositories 
that could serve as investment company custodians.
    2. Consideration of whether to publish for public comment 
revised proposed rule 3a-4 and proposed Form N-3a4, both under the 
Investment Company Act of 1940. Revised proposed rule 3a-4 would 
provide a nonexclusive safe harbor from the definition of investment 
company for certain programs under which investment advisory 
services are provided to clients (``investment advisory programs''). 
Proposed Form N-3a4 would be filed with the Commission by sponsors 
of investment advisory programs intending to rely on rule 3a-4. 
Additionally, the Commission is considering requesting comment 
regarding the application of certain provisions of the Investment 
Advisers Act of 1940 to investment advisers participating in 
investment advisory programs.

    The subject matter of the closed meeting scheduled for Thursday, 
July 27, 1995, after the 10:00 open meeting, will be:

    Institution of injunctive actions.
    Settlement of injunctive action.
    Institution of administrative proceedings of an enforcement 
nature.
    Settlement of administrative proceedings of an enforcement 
nature.
    Formal orders of investigation.
    Opinion.

    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items. For further information and to 
ascertain what, if any, matters have been added, deleted or postponed, 
please contact: The Office of the Secretary (202) 942-7070.

    Dated: July 21, 1995.
[FR Doc. 95-18336 Filed 7-21-95; 3:12 pm]
BILLING CODE 8010-01-M