Securities and Exchange Commission 2013 – Federal Register Recent Federal Regulation Documents

The Securities and Exchange Commission is proposing for comment new Regulation Crowdfunding under the Securities Act of 1933 and the Securities Exchange Act of 1934 to implement the requirements of Title III of the Jumpstart Our Business Startups Act. Regulation Crowdfunding would prescribe rules governing the offer and sale of securities under new Section 4(a)(6) of the Securities Act of 1933. The proposal also would provide a framework for the regulation of registered funding portals and brokers that issuers are required to use as intermediaries in the offer and sale of securities in reliance on Section 4(a)(6). In addition, the proposal would exempt securities sold pursuant to Section 4(a)(6) from the registration requirements of Section 12(g) of the Securities Exchange Act of 1934.

Applicant seeks an order declaring that it has ceased to be an investment company. On August 30, 2013, applicant made a liquidating distribution to its shareholder, based on net asset value. Expenses of approximately $3,500 incurred in connection with the liquidation were paid by SEI Investments Management Corporation, applicant's investment adviser. Filing Date: The application was filed on September 27, 2013. Applicant's Address: One Freedom Valley Dr., Oaks, PA 19456.