EFFECTIVE JANUARY 19, 2022, THIS LETTER IS WITHDRAWN.
Please consult the following web page for more information: https://www.sec.gov/divisions/investment/im-modified-withdrawn-staff-statements.
Investment Company Act of 1940 — Section 12(d)(1)(A) and (B)
FQF Trust, et al.
December 13, 2011
RESPONSE OF THE OFFICE OF INVESTMENT COMPANY REGULATION
Our Ref. No. 11-2-ICR
DIVISION OF INVESTMENT MANAGEMENT
Your letter of December 12, 2011 requests our assurance that we would not recommend that the Commission take any enforcement action against the Applicants or the Closed-end Funds, each as defined in your letter, under sections 12(d)(1)(A) and (B) and 17(a) of the Investment Company Act of 1940 (the “Act”), if the Closed-end Funds rely on an exemptive order issued to Applicants1 to the same extent as the Acquiring Funds, subject to the Order’s terms and conditions.
Based on the facts and representations made in your letter, we would not recommend enforcement action to the Commission against the Applicants or the Closed-end Funds if the Closed-end Funds rely on the Order to the same extent as the Acquiring Funds, subject to the Order’s terms and conditions. This response expresses the Division’s position on enforcement action only, and does not purport to express any legal conclusions on the questions presented. Facts or representations different from those presented in your letter might require a different conclusion.
Marilyn Mann
Special Counsel
Office of Investment Company Regulation
December 13, 2011
1 FQF Trust, Investment Company Act Release Nos. 29720 (July 11, 2011) (notice) and 29747 (Aug. 5, 2011) (order) (the “Order”).
Incoming Letter
The Incoming Letter is in Acrobat format.
http://www.sec.gov/divisions/investment/noaction/2011/fqftrust121311-12d1.htm
