Collective Investment Funds: Hearings, Eighty-ninth Congress, Second Session. March 8, 10, and 11, 1966

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Page 171 - ll(d) provides: No liability for any act done or omitted on good faith in conformity with any rule or regulation of the Comptroller, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason. b
Page 167 - ll(d) provides: No liability for any act done or omitted on good faith in conformity with any rule or regulation of the Comptroller, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
Page 140 - stated by the Board, the Account will 'be operated under the effective control of the bank'" (p. 10). 1. The Commission may not find that it is "necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of this title
Page 164 - or inaccurate in any material respect. Provides in Section 8(d) for a stop-order suspending effectiveness of any registration statement which includes any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading. Empowers the Commission, in Section
Page 647 - alia, trust departments of national banks would be permitted to collectively invest in common trust funds the moneys deposited with them in managing agency accounts, and under selfemployed (Smathers-Keogh Act) retirement plans. Shortly thereafter the Securities and Exchange Commission publicly asserted that the Securities Act of 1933 and the Investment Company Act of 1940
Page 262 - if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of this subchapter." Thus, an essential requirement is that the exemption shall

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