Securities and Exchange Commission September 2010 – Federal Register Recent Federal Regulation Documents

Summary of Application: Applicants request an order to permit certain registered closed-end investment companies to make periodic distributions of long-term capital gains with respect to their common shares as often as monthly in any one taxable year, and as frequently as distributions are specified by or in accordance with the terms of any preferred shares. Applicants: Tri-Continental Corporation (``Tri-Continental''), RiverSource LaSalle International Real Estate Fund, Inc. (``RLIREF''), Seligman Premium Technology Growth Fund, Inc. (``SPTGF,'' together with Tri-Continental and RLIREF, the ``Funds''), and Columbia Management Investment Advisers, LLC (the ``Investment Adviser'').

We are adopting changes to the Federal proxy rules to facilitate the effective exercise of shareholders' traditional State law rights to nominate and elect directors to company boards of directors. The new rules will require, under certain circumstances, a company's proxy materials to provide shareholders with information about, and the ability to vote for, a shareholder's, or group of shareholders', nominees for director. We believe that these rules will benefit shareholders by improving corporate suffrage, the disclosure provided in connection with corporate proxy solicitations, and communication between shareholders in the proxy process. The new rules apply only where, among other things, relevant state or foreign law does not prohibit shareholders from nominating directors. The new rules will require that specified disclosures be made concerning nominating shareholders or groups and their nominees. In addition, the new rules provide that companies must include in their proxy materials, under certain circumstances, shareholder proposals that seek to establish a procedure in the company's governing documents for the inclusion of one or more shareholder director nominees in the company's proxy materials. We also are adopting related changes to certain of our other rules and regulations, including the existing solicitation exemptions from our proxy rules and the beneficial ownership reporting requirements.