Mutual Fund Regulatory Filings to Be Available to Investors Online

FOR IMMEDIATE RELEASE
2008-257

Washington, D.C., Oct. 29, 2008 — The Securities and Exchange Commission has adopted rule revisions to require that mutual funds and other companies seeking exemptions under the Investment Company Act submit their applications electronically. This change will enable investors to access these filings sooner and the Commission to consider them more quickly.

"This is another step in our commitment to make public filings available electronically for the benefit of investors," said SEC Chairman Christopher Cox. "These revisions will significantly improve public access to exemptive applications through the Internet, and at the same time will eliminate unnecessary administrative requirements for filers."

Effective Jan. 1, 2009, new or amended applications for orders under the Investment Company Act and Regulation E filings of small business investment companies and business development companies will become mandatory electronic submissions. Internet availability of these exemptive applications on the Commission's EDGAR system will improve public access, which in the past has been limited to obtaining hard copies through the SEC's Public Reference Branch or through private services for a fee.

In addition, the revisions eliminate unnecessary administrative tasks for applicants, such as requiring that certain documents be notarized and that applicants submit a draft notice along with an application.

The full text of the final rule concerning this item is available on the SEC Web site.

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