RegAlert1993-08-31
Added · Updated
SEC Division of Investment Management staff letter: Japan Securities Depository Center
The SEC Division of Investment Management states it would not recommend enforcement action against the Japan Securities Depository Center (JASDEC) if it acts as an eligible foreign custodian for U.S. registered investment companies under Section 17(f) and Rule 17f-5(c)(2)(iii) of the Investment Company Act of 1940. This position is based on JASDEC's status as a non-profit public interest corporation established under Japanese law, its oversight by the Ministers of Finance and Justice, and its joint and several liability for missing share certificates. The response applies specifically to JASDEC's custody of eligible securities designated by Japanese authorities and does not express legal conclusions on the issues presented.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON. D.C. 20549
iJlVISION OF
INVESTMENT MANAGEMENT
August 31, 1993
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VIA TELECOPIER AND U. S. MAIL. Act -r L It - L-O -J i i Sect 10n Mr. Seiji Tanaka Japan Securities Depository enter . l Daini -Shoken Kaikan Building R!.le 17,p~ S-(~)C;;)(ir /) .. 1-1, Nihombashi-Kayaba-Cho Public \ ¡p 2-Chome, Chuo-Ku, Tokyo 103 AV'allabl11 ty g / ~ 1/ 7 _3 ~ . ~"'''"".....s::. Japan RE: Japan Securities Depository Center ("JASDEC"); No- Action Request under section 17 (f) and Rule 17f-5(c) (2) (iii) of the Investment ComDanv Act of 1940
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