Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section80a-29&num=0&edition=prelim
Timestamp: 2020-08-09 18:12:05
Document Index: 287888459

Matched Legal Cases: ['§ 80', '§80', '§30', '§206', '§508', '§301', '§77', '§78', '§301', '§301', '§301', '§206', '§206', '§206', '§508', '§206', '§508', '§206']

[USC02] 15 USC 80a-29: Reports and financial statements of investment companies and affiliated persons
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15 USC 80a-29: Reports and financial statements of investment companies and affiliated persons Text contains those laws in effect on August 8, 2020
§80a–29. Reports and financial statements of investment companies and affiliated persons
(b) Semi-annual or quarterly filing of information; copies of periodic or interim reports sent to security holders
Every registered investment company shall file with the Commission-
(1) such information, documents, and reports (other than financial statements), as the Commission may require to keep reasonably current the information and documents contained in the registration statement of such company filed under this subchapter; and
(2) copies of every periodic or interim report or similar communication containing financial statements and transmitted to any class of such company's security holders, such copies to be filed not later than ten days after such transmission.
(1) The Commission shall take such action as it deems necessary or appropriate, consistent with the public interest and the protection of investors, to avoid unnecessary reporting by, and minimize the compliance burdens on, registered investment companies and their affiliated persons in exercising its authority-
(A) under subsection (f); and
(B) under subsection (b)(1), if the Commission requires the filing of information, documents, and reports under that subsection on a basis more frequently than semiannually.
(2) Action taken by the Commission under paragraph (1) shall include considering, and requesting public comment on-
(A) feasible alternatives that minimize the reporting burdens on registered investment companies; and
(B) the utility of such information, documents, and reports to the Commission in relation to the costs to registered investment companies and their affiliated persons of providing such information, documents, and reports.
(e) Semiannual reports to stockholders
Every registered investment company shall transmit to its stockholders, at least semiannually, reports containing such of the following information and financial statements or their equivalent, as of a reasonably current date, as the Commission may prescribe by rules and regulations for the protection of investors, which reports shall not be misleading in any material respect in the light of the reports required to be filed pursuant to subsections (a) and (b):
(1) a balance sheet accompanied by a statement of the aggregate value of investments on the date of such balance sheet;
(2) a list showing the amounts and values of securities owned on the date of such balance sheet;
(3) a statement of income, for the period covered by the report, which shall be itemized at least with respect to each category of income and expense representing more than 5 per centum of total income or expense;
(4) a statement of surplus, which shall be itemized at least with respect to each charge or credit to the surplus account which represents more than 5 per centum of the total charges or credits during the period covered by the report;
(5) a statement of the aggregate remuneration paid by the company during the period covered by the report (A) to all directors and to all members of any advisory board for regular compensation; (B) to each director and to each member of an advisory board for special compensation; (C) to all officers; and (D) to each person of whom any officer or director of the company is an affiliated person; and
(6) a statement of the aggregate dollar amounts of purchases and sales of investment securities, other than Government securities, made during the period covered by the report:
(i) Disclosure to church plan participants
A person that maintains a church plan that is excluded from the definition of an investment company solely by reason of section 80a–3(c)(14) of this title shall provide disclosure to plan participants, in writing, and not less frequently than annually, and for new participants joining such a plan after May 31, 1996, as soon as is practicable after joining such plan, that-
(1) the plan, or any company or account maintained to manage or hold plan assets and interests in such plan, company, or account, are not subject to registration, regulation, or reporting under this subchapter, the Securities Act of 1933 [15 U.S.C. 77a et seq.], the Securities Exchange Act of 1934 [15 U.S.C. 78a et seq.], or State securities laws; and
(2) plan participants and beneficiaries therefore will not be afforded the protections of those provisions.
(Aug. 22, 1940, ch. 686, title I, §30, 54 Stat. 836 ; Pub. L. 104–290, title II, §206, title V, §508(g), Oct. 11, 1996, 110 Stat. 3430 , 3449; Pub. L. 105–353, title III, §301(c)(5), Nov. 3, 1998, 112 Stat. 3237 .)
The Securities Act of 1933, referred to in subsec. (i)(1), is act May 27, 1933, ch. 38, title I, 48 Stat. 74 , as amended, which is classified generally to subchapter I (§77a et seq.) of chapter 2A of this title. For complete classification of this Act to the Code, see section 77a of this title and Tables.
The Securities Exchange Act of 1934, referred to in subsec. (i)(1), is act June 6, 1934, ch. 404, 48 Stat. 881 , as amended, which is classified principally to chapter 2B (§78a et seq.) of this title. For complete classification of this Act to the Code, see section 78a of this title and Tables.
1998-Subsec. (b)(1). Pub. L. 105–353, §301(c)(5)(A), inserted "and" after semicolon at end.
Subsec. (e). Pub. L. 105–353, §301(c)(5)(B), substituted "semiannually" for "semi-annually" in introductory provisions.
Subsecs. (g) to (j). Pub. L. 105–353, §301(c)(5)(C), redesignated subsecs. (g) and (h), relating to disclosure to church plan participants and notice to Commission, respectively, as (i) and (j), respectively.
1996-Subsec. (b)(1). Pub. L. 104–290, §206(1), added par. (1) and struck out former par. (1) which read as follows: "such information and documents (other than financial statements) as the Commission may require, on a semi-annual or quarterly basis, to keep reasonably current the information and documents contained in the registration statement of such company filed under this subchapter; and".
Subsecs. (c) to (e). Pub. L. 104–290, §206(2), (3), added subsec. (c) and redesignated former subsecs. (c) and (d) as (d) and (e), respectively. Former subsec. (e) redesignated (g).
Subsec. (f). Pub. L. 104–290, §206(2), (4), added subsec. (f). Former subsec. (f) redesignated (h).
Subsec. (g). Pub. L. 104–290, §508(g), added subsec. (g), relating to disclosure to church plan participants.
Pub. L. 104–290, §206(2), (5), redesignated subsec. (e), relating to certificate of independent public accountants, as (g), and substituted "pursuant to subsections (a) and (e)" for "pursuant to subsections (a) and (d)".
Subsec. (h). Pub. L. 104–290, §508(g), added subsec. (h), relating to notice to Commission.
Pub. L. 104–290, §206(2), redesignated subsec. (f), relating to duties and liabilities of affiliated persons, as (h).