Papers

May 1992 - Protecting Investors: A Half-Century of Investment Company Act Regulation, SEC Division of Investment Management. (courtesy of SEC)

This report, prepared by the SEC's Division of Investment Management, is the product of a thorough study of the SEC's regulation of investment companies begun during the Investment Company Act's 50th anniversary. The aim of the study was to determine the effectiveness of the existing regulatory regime.

The Division of Investment Management was tasked with identifying areas where regulation should be more flexible, or where regulatory costs could be reduced, without sacrificing the quality of investor protection. The report looks at such areas as affiliated transactions, fees, compensation, structured finance, private investment companies, employee benefit plans, governance, insurance products, and exemptive orders.

The table of contents include:

-	Executive Summary
1A	The Treatment of Structured Finance under the Investment Company Act
1B	The Treatment of Structured Finance under the Investment Company Act - continued
1C	The Treatment of Structured Finance under the Investment Company Act - continued
2	Private Investment Company Exceptions
3A	Pooled Investment Vehicles for Employee Benefit Plan Assets
3B	Pooled Investment Vehicles for Employee Benefit Plan Assets - continued
4	Internationalization and Investment Companies
5	The Reach of the Investment Advisers Act of 1940
6	Performance Based Advisory Compensation
7	Investment Company Governance
8A	The Sale of Open-End Investment Company Shares
8B	The Sale of Open-End Investment Company Shares - continued
9	Investment Company Advertising
10A	Variable Insurance
10B	Variable Insurance - continued
11A	Repurchases and Redemptions of Investment Company Shares
11B	Repurchases and Redemptions of Investment Company Shares - continued
12	Affiliated Transactions
13	Procedures for Exemptive Orders

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