Foreign Issuer Reporting Enhancements
We are adopting a number of amendments to our rules relating to foreign private issuers that are intended to enhance the information that is available to investors. These amendments are part of a series of initiatives that seek to effect changes in our disclosure and other requirements applicable to foreign private issuers in light of market developments, new technologies and other matters in a manner that promotes investor protection and cross-border capital flows. We are adopting amendments that would enable foreign issuers to test their eligibility to use the special forms and rules available to foreign private issuers once a year, rather than continuously. We also are adopting amendments to change the deadline for annual reports filed by foreign private issuers and to eliminate an option under which foreign private issuers are permitted to omit segment data from their U.S. GAAP financial statements, and an amendment to the rule pertaining to going private transactions to reflect the new termination of reporting and deregistration rules for foreign private issuers. In addition, we are adopting amendments that would revise the annual report and registration statement forms used by foreign private issuers to improve certain disclosures provided in these forms.
Notice of Applications for Deregistration under Section 8(f) of the Investment Company Act of 1940
Applicant seeks an order declaring that it has ceased to be an investment company. On April 19, 2007, applicant transferred its assets to corresponding series of AIM Funds Group, based on net asset value. Expenses of $320,500 incurred in connection with the reorganization were paid by Invesco Aim Advisors, Inc., applicant's investment adviser. Filing Dates: The application was filed on August 8, 2008, and amended on September 19, 2008. Applicant's Address: 11 Greenway Plaza, Suite 100, Houston, TX 77046-1173. Legg Mason Partners Appreciation Fund, Inc. [File No. 811-1940] Legg Mason Partners Capital Fund, Inc. [File No. 811-2667] Legg Mason Partners Aggressive Growth Fund, Inc. [File No. 811-3762] CitiFunds Trust I [File No. 811-4006]
Technical Amendment to Item 407 of Regulation S-K
The Securities and Exchange Commission (``Commission'') is making a technical amendment to Item 407 of Regulation S-K. The technical amendment updates a reference to Independence Standards Board Standard No. 1 (``ISB No. 1''), which was previously adopted by the Public Company Accounting Oversight Board (``PCAOB'') as an interim standard but has been superseded by the PCAOB's newly adopted Ethics and Independence Rule 3526, Communication with Audit Committees Concerning Independence. The reference is being updated to refer to the ``applicable requirements of the Public Company Accounting Oversight Board regarding the independent accountant's communications with the audit committee concerning independence.''
Roundtable on Modernizing the SEC's Disclosure System
On October 8, 2008 from 9 a.m. to 1 p.m., the Securities and Exchange Commission will hold a roundtable to discuss ways in which its current disclosure system can be modernized to provide investors more useful and timely information to help them make investment choices. The roundtable will be organized as two panels. The panels will be moderated by Commission staff and will include investor representatives, company officials, information intermediaries, practitioners, and academics. The roundtable is part of the Commission's 21st Century Disclosure Initiative. The roundtable will be held in the auditorium of SEC headquarters at 100 F Street, NE., Washington, DC, from 9 a.m. until approximately 1 p.m. The roundtable will be open to the public with seating on a first- come, first-served basis. The roundtable discussions will be Webcast on the Commission's Web site at http://www.sec.gov. The roundtable agenda and other related materials, including a list of participants and moderators, will be accessible at http://www.sec.gov/ disclosureinitiative. The Commission welcomes comments regarding any of the topics to be addressed at the roundtable and is particularly interested in comments responding to the questions that are set forth below.