SEC Division of Investment Management staff letter: Bradley A. Veld

The Securities and Exchange Commission clarifies that U.S. securities laws restrict non-U.S. registered mutual funds from permitting asset transfers between funds for shareholders residing in the United States. Specifically, the Securities Act of 1933 and the Investment Company Act of 1940 require such transfers to be registered, and Mackenzie Financial Services Inc. has not registered its Canadian funds with the Commission. Consequently, allowing these transfers would constitute an illegal public offering in the United States, and the Commission has not changed its enforcement policies regarding these existing laws.

SEC published 7 documents in the last 30 days — get each new one by email the day it lands.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON. D.C. 20549
..ø . ........:... ... '. ."._.. _. .... w" . . .....". f'~" ,.. i ".Åm"'~-b-. ~~~

SECTON Î (d) -~

.----..;.~.:. RUL ----'-.:~-b"~
,
PULIO August 15, 1997

AVJJ. l'PJ! '6. ~'-:'." .... -. J6rti'.,~~..--~"."" ,... .
Mr: Bradley A. Veld
14315' SE 29th Circle

Vancouver, W A 98638
Re: U. S. Regulation of Canadian Mutual Funds

Dea Mr. Veld:
Ths is in response to your letter to Chairan Arhur Levitt, dated May 13, 1997, in which you describe the difficulties that you are having in connection with the trasfer of your retiement assets between Canadian mutual funds that are managed by

Read the rest free, and get an email when SEC publishes again

Email me when SEC publishes something newOne email per publication, same day. Sign in below to keep reading.

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Source: Securities and Exchange Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works