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Ex. AGY-FED-FINANCIAL-055 Order Primary source read

Investment Company Act Release No. 33821, Order Under Sections 6(c), 12(d)(1)(J), 17(b), 17(d) and 38(a) of the Investment Company Act of 1940 Granting Exemptions from Specified Provisions

Conditional Exemptive Order: SEC Provides Temporary Additional Flexibility to Registered Investment Companies Affected by Coronavirus

Securities and Exchange Commission · United States; Securities and Exchange Commission (federal) (Federal)

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The COVID Project

The record

Jurisdiction
United States; Securities and Exchange Commission (federal)
Level
Federal
Authority
15 U.S.C. § 80a-6(c)
Issued
2020-03-23 Mar. 23, 2020
Effective
2020-03-23
End
2021-04-30 (terminated by the Division of Investment Management's notice of April 15, 2021, Ex. 065) (read as 2021-04-30)
In force
Mar. 23, 2020 to Apr. 30, 2021
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q2
Limitation types
Other
Addressees
  • registered open-end management investment companies other than money market funds
  • insurance company separate accounts registered as unit investment trusts
  • their affiliates
Functions reached
  • WM fund liquidity management
  • OP
  • CB shareholders
Collection
Federal financial regulators AGY-FED-FINANCIAL

Operative words

[The order provides] temporary flexibility to obtain short-term funding to (1) registered open-end management investment companies other than money market funds and (2) insurance company separate accounts registered as unit investment trusts [by permitting interfund lending, borrowing from affiliates and deviations from fundamental borrowing policies, subject to board approval and notice to the Commission].

Enforcement

Conditional exemption from 15 U.S.C. §§ 80a-12, 80a-17, 80a-18

Notes

In force for thirteen months; the termination notice (Ex. 065) fixes the end date

Retrieval note

Description quoted from the Division of Investment Management's April 15, 2021 termination statement (Ex. 065), which restates the order.

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.