On March 12, 2009, the staff of the SEC’s Division of Investment Management issued a no-action letter stating that it would not recommend enforcement action in connection with certain transactions involving liquidity protected preferred shares (“LPPS”) issued by closed-end funds.
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RegisterSEC issues additional guidance relating to liquidity protected preferred shares
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USA
June 1 2009
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Selma Savitz
Librarian, Group Legal Division
The Standard Bank of South Africa Limited
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