Assertion: fund's board | /r/HasProperty | required by rule
Facets:
Source sentences:
text: In your letter dated September 17, 2004, you request assurances that we will not recommend an enforcement action to the Commission under Rule 38a-1 of the Investment Company Act of 1940 (the "Act") against a closed-end investment company (a "closed-end fund") if its board of directors does not approve and annually review the compliance policies and procedures of its principal underwriters as required by Rule 38a-1.1