U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission

SEC Open Meeting Agenda
Wednesday, August 18, 2004, 10:00 a.m.

Agenda as of August 17, 2004. Note that Open Meeting agendas are subject to last-minute changes.

Item 1: Prohibition on the Use of Brokerage Commissions to Finance Distribution
Office:  Division of Investment Management
Staff:  Robert E. Plaze, Hunter Jones, Penelope Saltzman, William C. Middlebrooks
Item 2: Disclosure Regarding Portfolio Managers of Registered Management Investment Companies
Office:  Division of Investment Management
Staff:  Susan Nash, Paul G. Cellupica, Christopher P. Kaiser, Sanjay Lamba


Item 1: Prohibition on the Use of Brokerage Commissions to Finance Distribution

The Commission will consider whether to adopt amendments to rule 12b-1 under the Investment Company Act of 1940. The amended rule would prohibit investment companies from paying for the distribution of their shares with brokerage commissions.

For further information, please contact William C. Middlebrooks at (202) 942-0690.

Item 2: Disclosure Regarding Portfolio Managers of Registered Management Investment Companies

The Commission will consider whether to adopt amendments to Forms N-1A, N-2, N-3, and N-CSR that are designed to improve the disclosure provided by mutual funds and closed-end funds about their portfolio managers. The amendments would extend the existing requirement that a fund provide basic information in its prospectus regarding its portfolio manager to members of management teams. The amendments would also require a fund to disclose additional information about its portfolio managers in its Statement of Additional Information (and, for closed-end funds, in reports on Form N-CSR), including other accounts they manage, compensation structure, and ownership of securities in the fund.

For further information, please contact Sanjay Lamba at (202) 942-7926.

 

http://www.sec.gov/news/openmeetings/agenda081804.htm

Modified: 08/17/2004