Document ID: SEC-2018-1853-0001
Agency: sec
Document Type: Rule
Title: Form N-1A; Correction
Posted Date: 2018-12-04T05:00Z

[Federal Register Volume 83, Number 233 (Tuesday, December 4, 2018)]
[Rules and Regulations]
[Pages 62454-62455]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26335]

[[Page 62454]]

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SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 239 and 274

[Release Nos. 33-10577, IC-33308; File Nos. S7-08-15; S7-04-18]

Form N-1A; Correction

AGENCY: Securities and Exchange Commission.

ACTION: Final rule; technical correction.

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SUMMARY: This document makes technical corrections to several 
amendments to Form N-1A, which the Commission adopted as part of three 
rulemakings: Investment Company Reporting Modernization, which was 
published in the Federal Register on November 18, 2016; Optional 
Internet Availability of Investment Company Shareholder Reports, which 
was published in the Federal Register on June 22, 2018; and Investment 
Company Liquidity Disclosure, which was published in the Federal 
Register on July 10, 2018. This document is being published to correct 
the paragraph designations that appeared in the amendatory instructions 
preceding certain of the form amendments that the Commission adopted as 
part of each of these rulemakings. This document makes technical 
corrections only to the paragraph designations that appear in the 
amendatory instructions preceding these form amendments. This document 
does not make any substantive changes (i.e., changes except corrections 
to typographical errors) to the text of the form amendments themselves.

DATES: Effective December 4, 2018, except:
     The revisions to Item 27(d)(3) of Form N-1A are effective 
May 1, 2020;
     Item 27(d)(7) of Form N-1A (referenced in 17 CFR 239.15A 
and 274.11A) is effective January 1, 2019, through December 31, 2021; 
and
     Item 27(d)(7) is removed effective January 1, 2022.

FOR FURTHER INFORMATION CONTACT: James Maclean, Senior Counsel, or 
Amanda Hollander Wagner, Branch Chief, Investment Company Regulation 
Office, at (202) 551-6792, Division of Investment Management, 
Securities and Exchange Commission, 100 F Street NE, Washington, DC 
20549-8549.

SUPPLEMENTARY INFORMATION: We are making a technical amendment to Item 
27 of Form N-1A under 17 CFR 239.15A and 274.11A.

List of Subjects

17 CFR Part 239

    Reporting and recordkeeping requirements, Securities.

17 CFR Part 274

    Investment companies, Reporting and recordkeeping requirements, 
Securities.

Statutory Authority and Text of Amendments

    For the reasons set out above, title 17, chapter II of the Code of 
Federal Regulations is amended as follows:

PART 239--FORMS PRESCRIBED UNDER THE SECURITIES ACT OF 1933

0
1. The authority citation for part 239 continues to read in part as 
follows:

    Authority: 15 U.S.C. 77c, 77f, 77g, 77h, 77j, 77s, 77z-2, 77z-3, 
77sss, 78c, 78l, 78m,78n, 78o(d), 78o-7 note, 78u-5, 78w(a), 78ll, 
78mm, 80a-2(a), 80a-3, 80a-8, 80a-9, 80a-10, 80a-13, 80a-24, 80a-26, 
80a-29, 80a-30, and 80a-37; and sec. 107, Pub. L. 112-106, 126 Stat. 
312, unless otherwise noted.
* * * * *

PART 274--FORMS PRESCRIBED UNDER THE INVESTMENT COMPANY ACT OF 1940

0
2. The authority citation for part 274 continues to read in part as 
follows:

    Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 78c(b), 78l, 78m, 
78n, 78o(d), 80a-8, 80a-24, 80a-26, 80a-29, and Pub. L. 111-203, 
sec. 939A, 124 Stat. 1376 (2010), unless otherwise noted.
* * * * *

0
3. Form N-1A (referenced in Sec. Sec.  239.15A and 274.11A), Item 27, 
is amended by:
0
a. Revising paragraph (d)(3);
0
b. Redesignating paragraph (d)(6) as (d)(6)(i);
0
c. Adding new paragraph (d)(6)(ii);
0
d. Adding paragraph (d)(7); and
0
e. Removing paragraph (d)(7).
    The revisions and additions read as follows:

    Note: The text of Form N-1A does not, and this amendment will 
not, appear in the Code of Federal Regulations.

Form N-1A

* * * * *

Item 27. Financial Statements

* * * * *
    (d) * * *
    (3) Statement Regarding Availability of Quarterly Portfolio 
Schedule. A statement that: (i) The Fund files its complete schedule of 
portfolio holdings with the Commission for the first and third quarters 
of each fiscal year as an exhibit to its reports on Form N-PORT; (ii) 
the Fund's Form N-PORT reports are available on the Commission's 
website at http://www.sec.gov; and (iii) if the Fund makes the 
information on Form N-PORT available to shareholders on its website or 
upon request, a description of how the information may be obtained from 
the Fund.
* * * * *
    (6) Board Approvals and Liquidity Reviews.
    (i) Statement Regarding Basis for Approval of Investment Advisory 
Contract. * * *
    (ii) Statement Regarding Liquidity Risk Management Program. If the 
board of directors reviewed the Fund's liquidity risk management 
program pursuant to rule 22e-4(b)(2)(iii) of the Act [17 CFR 270.22e-
4(b)(2)(iii)] during the Fund's most recent fiscal half-year, briefly 
discuss the operation and effectiveness of the Fund's liquidity risk 
management program over the past year.

Instruction

    If the board reviews the liquidity risk management program more 
frequently than annually, a fund may choose to include the discussion 
of the program's operation and effectiveness over the past year in one 
of either the fund's annual or semi-annual reports, but does not need 
to include it in both reports.
    (7) Front Cover Page or Beginning of Annual and Semi-Annual Report. 
Include on the front cover page or at the beginning of the annual or 
semi-annual report a statement to the following effect, if applicable:
    Beginning on [date], as permitted by regulations adopted by the 
Securities and Exchange Commission, paper copies of the Fund's 
shareholder reports like this one will no longer be sent by mail, 
unless you specifically request paper copies of the reports from the 
Fund [or from your financial intermediary, such as a broker-dealer or 
bank]. Instead, the reports will be made available on a website, and 
you will be notified by mail each time a report is posted and provided 
with a website link to access the report.
    If you already elected to receive shareholder reports 
electronically, you will not be affected by this change and you need 
not take any action. You may elect to receive shareholder reports and 
other communications from the Fund [or your financial intermediary] 
electronically by [insert instructions].
    You may elect to receive all future reports in paper free of 
charge. You can inform the Fund [or your financial intermediary] that 
you wish to continue receiving paper copies of your shareholder reports 
by [insert instructions]. Your election to receive reports in paper 
will apply to all funds held with [the fund complex/your financial 
intermediary].
* * * * *

[[Page 62455]]

    Dated: November 29, 2018.
Brent J. Fields,
Secretary.
[FR Doc. 2018-26335 Filed 12-3-18; 8:45 am]
BILLING CODE 8011-01-P