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 August 31, 2009, applicant made a final liquidating distribution to its shareholders, based on net asset value. Expenses of $2,700 incurred in connection with the liquidation were paid by The Dreyfus Corporation, applicant's investment adviser. Filing Dates: The application was filed on April 6, 2011, and amended on May 9, 2011. Applicant's Address: c/o The Dreyfus Corporation, 200 Park Ave., New York, NY 10166.
Disqualification of Felons and Other “Bad Actors” From Rule 506 Offerings
We are proposing amendments to our rules to implement Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 926 requires us to adopt rules that disqualify securities offerings involving certain ``felons and other `bad actors''' from reliance on the safe harbor from Securities Act registration provided by Rule 506 of Regulation D. The rules must be ``substantially similar'' to Rule 262, the disqualification provisions of Regulation A under the Securities Act, and must also cover matters enumerated in Section 926 (including certain state regulatory orders and bars).