Securities and Exchange Commission October 2006 – Federal Register Recent Federal Regulation Documents

The Commission is reproposing for comment an additional definition of the term ``eligible portfolio company'' under the Investment Company Act of 1940 (``Investment Company Act'' or ``Act''). The reproposed rule is intended to more closely align the definition of eligible portfolio company, and the investment activities of business development companies (``BDCs''), with the purpose that Congress intended. The reproposed rule would expand the definition of eligible portfolio company to include certain companies that list their securities on a national securities exchange (``Exchange'').

The Commission is adopting two new rules under the Investment Company Act of 1940 (``Investment Company Act'' or ``Act''). The new rules more closely align the definition of eligible portfolio company, and the investment activities of business development companies (``BDCs''), with the purpose that Congress intended. The rules expand the definition of eligible portfolio company in a manner that promotes the flow of capital to certain small, developing and financially troubled companies.

In accordance with the requirements of the Privacy Act of 1974, as amended, 5 U.S.C. 552a, the Securities and Exchange Commission gives notice of a proposed Privacy Act system of records: ``Photographic Files (SEC-54).'' This system of records will contain a collection of photographic materials, in print and electronic format, related to Commission staff and events.

Applicant requests an exemption from section 9(a) of the Act with respect to a securities-related injunction entered in 1987. Applicant: Investment Technology Group, Inc. (``ITG''). Filing Dates: The application was filed on May 24, 2005 and amended on June 23, 2006. Hearing or Notification of Hearing: Interested persons may request a hearing by writing to the Commission's Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on November 17, 2006 and should be accompanied by proof of service on applicants in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission's Secretary. An order granting the application will be issued unless the Commission orders a hearing.