Securities and Exchange Commission October 2020 – Federal Register Recent Federal Regulation Documents

The Commission is issuing an order designating the General Securities Representative license (Series 7), the Private Securities Offerings Representative license (Series 82), and the Investment Adviser Representative license (Series 65) as qualifying natural persons for accredited investor status.

The Securities and Exchange Commission (``Commission'') is adopting amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make pursuant to Regulation S-K. These disclosure items have not undergone significant revisions in over 30 years. The amendments update these rules to account for developments since their adoption or last revision, to improve disclosure for investors, and to simplify compliance for registrants. Specifically, the amendments are intended to improve the readability of disclosure documents, as well as discourage repetition and the disclosure of information that is not material.

Applicant seeks an order declaring that it has ceased to be an investment company. On April 24, 2020, applicant made liquidating distributions to its shareholders based on net asset value. Expenses of $6,295 incurred in connection with the liquidation were paid by the applicant, and the applicant's investment adviser. Filing Dates: The application was filed on July 1, 2020, and amended on September 18, 2020. Applicant's Address: swellman@bmtc.com.