How do I get a no-action letter for SEC?
You may call 202-551-5777 or send an email to [email protected] with any questions about preparing a request letter.
What are the securities for bank lending?
Some of the securities that can be used for bank loans in Nigeria include the followings: Real Estate- landed properties; constructed buildings; fixtures on land; leasehold on a property (intangible rights) are acceptable securities for bank loans in Nigeria.
Can a mutual fund lend securities?
Securities lending is a well-established practice whereby U.S. registered funds, such as mutual funds, make loans of securities to seek an incremental increase in returns for fund shareholders.
What is no-action relief?
No-action relief is a mechanism that allows registrants to obtain certain assurances when their conduct may touch upon a gray area of regulation, or even may be technically proscribed, but does not raise the policy concerns underlying a particular rule.
How do I find SEC enforcement actions?
For additional information about SEC federal court actions and administrative proceedings, see the Enforcement page on SEC.gov. There, you can search for documents related to SEC actions by using the “Search Litigation Materials” feature located at the bottom of that page.
What are the risks of securities lending?
There are two primary risks of securities lending: borrower default risk and cash collateral reinvestment risk. Borrower default risk is the risk that the counterparty fails to return the borrowed security back to the lender.
Why do banks ask for security while lending?
Answer: BANKS ASK SECURITY OR COLLATERAL WHILE LENDING TO ASSURE THAT THE BORROWER WILL RETURN THE Money TO BANK IN PRESCRIBED TIME. IF HE FAILS BANKS HAVE LEGAL Authority TO SELL THE COLLATERAL AND GET ITS MONEY BACK.
How much do securities lending traders make?
How much does a Securities Lending Trader make? The national average salary for a Securities Lending Trader is $86,525 in United States.
What is a no-action order?
A no-action letter is a letter written by the staff members of a government agency, requested by an entity subject to regulation by that agency, indicating that the staff will not recommend that the agency take legal action against the entity, should the entity engage in a course of action proposed by the entity …
How do you get a no-action letter?
You can find a compilation of Staff No Action, Interpretive, and Exemptive Letters from the Divisions of Corporation Finance, Investment Management, and Trading and Markets, and the Office of the Chief Accountant in the “Staff Interpretations” section of our website.
What is the purpose of a no-action letter?
A no-action letter is a letter from an agency in which the agency states that it will not take any enforcement action against a party planning to engage in (and then disclosing) specific conduct to FinCEN.
When did the division of investment management no-action letter come out?
Important Note: This page contains Division of Investment Management no-action letters dated on or after January 1, 1993. Division of Investment Management no-action letters issued before that date may be obtained for a copy and processing fee.
What was the Norwest Bank no-action letter 1995?
Update to 1995 Norwest Bank no-action letter (described above) concerning the negotiation of the rebate rate as one of the loan terms and the use of an affiliated lending agent under section 17 (e) (1) of the Investment Company Act.
How do I send a request letter to the SEC?
You may call 202-551-5777 or send an email to [email protected] with any questions about preparing a request letter. Please read our Privacy Act Notice to learn about how we may use the information you send to us.
What is a securities lending agent?
A fund that lends its securities typically employs a securities lending agent, which may be the fund’s custodian bank, to administer the lending program. The lending agent’s services, and the compensation that the fund pays to the lending agent, are subject to oversight by the fund’s investment adviser and directors.