Revision of Rule Concerning Members' and Employees' Securities Transactions
SEC · final-rule · Published 1995-10-10 · 60 FR 52625
Document
Document number
95-24795
Federal Register citation
60 FR 52625
CFR reference
17 CFR 200
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Securities and Exchange Commission
Publication date
1995-10-10
Docket
Release No. 34-36301
Abstract
The Securities and Exchange Commission is amending its rule that prohibits Commissioners and members of the Senior Executive Service in the Division of Investment Management from purchasing securities issued by registered investment companies. The prohibition was deemed to be too restrictive and not necessary to prevent conflicts of interest or the appearance of impropriety. Commissioners and members of the Senior Executive Service in the Division of Investment Management and the Office of Compliance Inspections and Examinations will now be permitted to purchase securities issued by registered investment companies, provided that the securities are diversified within the meaning of the Investment Company Act of 1940.