Investments


  The SEC adopted rules requiring a registered investment company (fund) to disclose when it divests, in accordance with the Sudan Accountability and Divestment Act of 2007, from securities of issuers that the fund determines conduct or have direct investments in certain business operations in Sudan. On Dec. 31, 2007, President Bush signed the Sudan Accountability and Divestment Act. Among other things, the act provides that no person may bring any civil, criminal, or administrative action against any fund, or any employee, officer, director, or investment adviser of the fund, based solely upon the fund divesting from securities issued by persons that the fund determines, using credible information that is available to the public, conduct or have direct investments in certain business operations in Sudan. For more information, visit www.sec.gov/rules/final/2008/34-57711.pdf.

 

The SEC’s number of administrative proceedings, which include regulatory actions, spiked nearly 32% in the six–month period ending March 31 compared with the same period last year, according to the agency’s most recent report. To view the report, visit www.sec.gov/news/studies/2008/34-57743a.pdf.

 
 

 

 

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