[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