Securities and Exchange Commission September 15, 2014 – Federal Register Recent Federal Regulation Documents

Summary of the Application: Applicants request an order that would permit certain registered open-end management investment companies that operate as ``funds of funds'' to acquire shares of certain registered open-end management investment companies, registered closed-end management investment companies, ``business development companies,'' as defined by section 2(a)(48) of the 1940 Act (``business development companies''), and registered unit investment trusts that are within or outside the same group of investment companies as the acquiring investment companies. Applicants: BNY Mellon Funds Trust (``BNY Mellon Funds''); Dreyfus BNY Mellon Funds, Inc. (``Dreyfus BNY Mellon Funds''); Dreyfus Premier Investment Funds, Inc. (``Premier Investment Funds''); Strategic Funds, Inc. (``Strategic Funds'') (each an ``Investment Company,'' and collectively, the ``Investment Companies''); The Dreyfus Corporation (``Adviser''); and MBSC Securities Corporation (the ``Distributor'').

In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'') and to enhance oversight, the Securities and Exchange Commission (``Commission'') is: adopting amendments to existing rules and new rules that apply to credit rating agencies registered with the Commission as nationally recognized statistical rating organizations (``NRSROs''); adopting a new rule and form that apply to providers of third-party due diligence services for asset-backed securities; and adopting amendments to existing rules and a new rule that implement a requirement added by the Dodd-Frank Act that issuers and underwriters of asset-backed securities make publicly available the findings and conclusions of any third-party due diligence report obtained by the issuer or underwriter. The Commission also is adopting certain technical amendments to existing rules.