RegAlert2010-11-03
Added · Updated
SEC Division of Investment Management staff letter: Nuveen Municipal High Income Opportunity Fund, Nuveen Municipal High Income Opportunity Fund 2, Nuveen Floating Rate Income Opportunity Fund, Nuveen Senior Income Fund, Nuveen Floating Rate Income Fund, and Nuveen Municipal Value Fund, Inc.
The Securities and Exchange Commission staff confirms it will not recommend enforcement action against six specified closed-end funds if they utilize Rule 486(b) to file post-effective amendments to their shelf registration statements. This relief allows the funds to register additional shares or update financial statements with immediate effectiveness, bypassing the standard review process required under Section 8(c) of the Securities Act. The staff retains the authority to withdraw this assurance if a fund misuses Rule 486(b) or for any other reason.
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Morgan. Lewis &Bockius llf
1111 Pennsylvania Avenue NW
Washington, DC 20004
TeL 202,739,3000
Fax: 202,739,3001 www.morganlewis.com
Thomas S, Harman
Partner
2027395662
Iharman@MorganLewis.com
November 3,2010
Division of Investment Management
Securities and Exchange Commission
100 F Street, N,E,
Washington, DC 20549
Attn: Ms, Nadya R Roytblat
Re: Nuveen Asset Management and Rule 486(b)
Morgan Lewis COUNSELORS AT LAW
Dear Ms, Roytblat:
On behalf of certain closed-end funds ("Funds") advised by Nuveen Asset Management ("NAM"), we seek assurance that the staff ofthe Division of Investment Management (the "Staff') will not recommend enforcement action to the Securities and Exchange Commission (the "Commission") against the Funds under Section 5 or Section 6(a) ofthe Securities Act of 1933, as amended (the "Securities Act"), ifthe Funds use Rule 486(b) under the Securities Act under the circumstances set forth in this letter. I Background Each ofthe Funds is a closed-end management investment company registered under the Investment Company Act of 1940 (the "Investment Company Act"), Each Fund's common shares are registered under Section l2(b) ofthe Securities Exchange Act of 1934 and are listed and traded on the New York Stock Exchange, Each Fund has filed and had declared effective by the Commission a shelfregistration statement on Fonn N-2 pursuant to which it has issued securities in accordance with Rule 4I5(a)(l)(x) under the Securities Act and the positions ofthe Staff articulated in the Pilgrim America and Nuveen no-action letters,2 The Funds are Nuveen Mnnicipal High Income Opportunity Fund, Nuveen Municipal High Income Opportunity Fund 2, Nuveen Floating Rate Income Opportunity Fund, Nuveen Senior Income Fund, Nuveen Floating Rate Income Fund, and Nuveen Municipal Value Fund, Inc, Nuveen Virginia Premium Income Municipal Fund (pub, avaiL Oct 6, 2006); Pilgrim America Prime Rate Trust (pub, avaiL May I, 1998),
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