effect subsequent to November 16, 1972 (17 CFR 203.6).

(3) To terminate and close all investigations authorized by the Commission pursuant to section 20 of the Securities Act of 1933 (15 U.S.C. 77t), Section 21 of the Securities Exchange Act of 1934 (15 U.S.C. 78u), section 18 of the Public Utility Holding Company Act of 1935 (15 U.S.C. 79r), section 42 of the Investment Company Act of 1940 (15 U.S.C. 80a-41) and section 209 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-9).

(4) To terminate the authority to administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, contracts, agreements, or other records in the course of investigations instituted by the Commission pursuant to section 19(b) of the Securities Act of 1933 (15 U.S.C. 77s(b)), section 21(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78u(b)), section 18(c) of the Public Utility Holding Company Act of 1935 (15 U.S.C. 79r(c)), section 42(b) of the Investment Company Act of 1940 (15 U.S.C. 80a-41(b)) and section 209(b) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-9(b)).

(5) To grant or deny applications made pursuant to Rule 29 of the Commission's Rules of Practice (17 CFR 201.1-201.29), provided, that, in the event of a denial, the applicant shall be notified that such a denial may be appealed to the Commisson for review.

(6) To notify the Securities Investor Protection Corporation ("SIPC") of facts concerning the activities and the operational and financial condition of any registered broker or dealer which is or appears to be a member of SIPC and which is in or approaching financial difficulty within the meaning of section 5 of the Securities Investor Protection Act of 1970, as amended, 15 U.S.C. 78aaa, et seq.

(7) To grant requests for access to, or copies of, materials in the Commission's files concerning a non-public investigation upon written request for such access submitted by domestic and foreign governmental authorities, selfregulatory organizations, receivers, special counsels, and other similar per

sons appointed in Commission litigation, the Securities Investor Protection Corporation, and trustees and counsel for trustees appointed pursuant to section 5(b) of the Securities Investor Protection Act; Provided That, in matters in which the Commission has entered a formal order of investigation, such access shall be granted only with the concurrence of the General Counsel or his or her delegate.

(8) Pursuant to Rule 204–2(j)(3)(ii) (§ 275.204-2(j)(3)(ii) of this chapter) under the Investment Advisers Act of 1940 (15 U.S.C. 80b-1, et seq.), to make written demands upon non-resident investment advisers subject to the provisions of such rule to furnish to the Commission true, correct, complete and current copies of any or all books and records which such non-resident investment advisers are required to make, keep current or preserve pursuant to any provision of any rule or regulation of the Commission adopted under the Investment Advisers Act of 1940, or any part of such books and records which may be specified in any such demand.

(b) Notwithstanding anything in the foregoing, in any case in which the Director of the Division of Enforcement believes it appropriate, he may submit the matter to the Commission.

(15 U.S.C. 78d, 78d-1, 78d-2, 80a-37, 80b-11; sec. 19, 48 Stat. 85; sec. 20, 48 Stat. 86; sec. 21, 48 Stat. 899; sec. 23, 48 Stat. 901; sec. 18, 49 Stat. 831; sec. 20, 49 Stat. 833; sec. 319, 53 Stat. 1173; sec. 321, 53 Stat. 1174; sec. 38, 54 Stat. 841; sec. 42, 54 Stat. 842; sec. 209, 54 Stat. 853; sec. 211, 54 Stat. 855; sec. 1, 76 Stat. 394. (15 U.S.C. 77s, 77t, 78u, 78w, 79r, 79t, 77sss, 77uuu, 80a-37, 80a-41, 80b-9, 89b11, 78d-1); 15 U.S.C. 78d-1, 78d-2, as amended by the Securities Act Amendments of 1975, Pub. L. No. 94-29, 89 Stat. 163 (June 4, 1975))

[37 FR 16796, Aug. 19, 1972, as amended at 37 FR 25166, Nov. 28, 1972; 40 FR 14748, Apr. 2, 1975; 44 FR 22716, Apr. 17, 1979; 44 FR 50835, Aug. 30, 1979; 44 FR 76774, Dec. 28, 1979; 45 FR 7781, Feb. 5, 1980; 47 FR 26822, June 22, 1982; 49 FR 12206, Mar. 29, 1984]

§ 200.30-5 Delegation of authority to Director of Division of Investment Management.

Pursuant to the provisions of Pub. L. 87-592, 76 Stat. 394 (15 U.S.C. 78d-1,

78d-2), the Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to the Director of the Division of Investment Management, to be performed by him or under his direction by such person or persons as may be designated from time to time by the Chairman of the Commission:

(a) With respect to the Investment Company Act of 1940 (15 U.S.C. 80a-1, et seq.):

(1) To issue notices, pursuant to Rule 0-5(a) (§ 270.0-5(a) of this chapter), with respect to applications for orders under the following sections of the Act and the rules and regulations promulgated thereunder and, with respect to section 8(f) (15 U.S.C. 80a8(f)) of the Act, in cases where no application has been filed, where, upon examination, the matter does not appear to him to present issues not previously settled by the Commission or to raise questions of fact or policy indicating that the public interest or the interest of investors requires that a hearing be held:

(i) Section 3(b)(2), 15 U.S.C. 80a-3(b)(2). (ii) Section 6(b), 15 U.S.C. 80a-6(b). (iii) Section 6(c), 15 U.S.C. 80a-6(c). (iv) Section 6(d), 15 U.S.C. 80a-6(d). (v) Section 6(e), 15 U.S.C. 80a-6(e). (vi) Section 7(d), 15 U.S.C. 80a-7(d). (vii) Section 8(f), 15 U.S.C. 80a-8(f). (viii) Section 10(e), 15 U.S.C. 80a-10(e). (ix) Section 10(f), 15 U.S.C. 80a-10(f). (x) Section 11(a), 15 U.S.C. 80a-11(a). (xi) Section 12(g), 15 U.S.C. 80a-12(g). (xii) Section 16(a), 15 U.S.C. 80a-16(a). (xiii) Section 17(b), 15 U.S.C. 80a-17(b). (xiv) Section 17(d), 15 U.S.C. 80a-17(d). (xv) Section 17(e), 15 U.S.C. 80a-17(e). (xvi) Section 17(f), 15 U.S.C. 80a-17(f). (xvii) Section 17(g), 15 U.S.C. 80a-17(g). (xviii) Section 18(j), 15 U.S.C. 80a-18(j). (xix) Section 23(b), 15 U.S.C. 80a-23(b). (xx) Section 23(c), 15 U.S.C. 80a-23(c). (xxi) Section 26(b), 15 U.S.C. 80a-26(b). (xxii) Section 28(c), 15 U.S.C. 80a-28(c). (xxiii) Section 31(d), 15 U.S.C. 80a-30(d). (xxiv) Section 32(c), 15 U.S.C. 80a-31(c). (xxv) Section 45(a), 15 U.S.C. 80a-44(a). (xxvi) Section 57(c), 15 U.S.C. 80a-56(c). (xxvii) Section 57(j), 15 U.S.C. 80a-56(j). (xxviii) Section 57(k), 15 U.S.C. 80a-56(k). (xxix) Section 57(n), 15 U.S.C. 80a-56(n). (XXX) Section 61(a)(3), 15 U.S.C. 80a60(a)(3).

(2) To authorize the issuance of orders where a notice, pursuant to

Rule 0-5(a), (§ 270.0-5(a) of this chapter), has been issued and no request for a hearing has been received from any interested person within the period specified in the notice and the matter involved presents no issue that he believes has not been previously settled by the Commission and it does not appear to him to be necessary in the public interest or the interest of investors that a hearing be held (section 40(a) of the Act, 15 U.S.C. 80a39(a));

(3) To permit the withdrawal of applications pursuant to the Act (15 U.S.C. 80a-1, et seq.)

(4) In connection with the mailing of reports to stockholders and the filing with the Commission of registration statements and of reports:

(i) To grant reasonable extensions of time, upon a showing of good cause and that it would not be contrary to the public interest or inconsistent with the protection of investors; and

(ii) To deny requests for extensions of time, provided the applicant is advised that he can request Commission review of any such denial.

(5) To permit, pursuant to Rule 20a2(a)(9) (§ 270.20a-2(a)(9) of this chapter), the omission from a proxy statement of a registered investment company of the certification of the balance sheet of the investment adviser of such investment company and, if the investment adviser is primarily engaged in a business other than the underwriting or distribution of investment company securities or the performance of advisory services to registered investment companies, to permit the summarization or omission of such balance sheet.

(6)(i) To authorize the issuance of orders granting confidential treatment pursuant to section 45(a) of the Act (15 U.S.C. 80a-44(a)) where applications for confidential treatment are made regarding matters of disclosure in registration statements filed pursuant to section 8 of the Act (15 U.S.C. 80a-8), or in reports filed pursuant to section 30 of the Act (15 U.S.C. 80a29), but only when the Commission has previously by order granted confidential treatment to the same information.

(ii) To notify an investment company of an intention to make or require public disclosure of Part II of any annual report on Form N-1R filed by such investment company (except for responses required by Item 2.28 thereof) if the Commission has received a request for disclosure thereof pursuant to the Freedom of Information Act (5 U.S.C. 552).

(b) With respect to matters pertaining to investment companies registered under the Investment Company Act of 1940, pooled investment funds or accounts, and the general assets or separate accounts of insurance companies, all arising under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Trust Indenture Act of 1939, the same functions as are delegated to the Director of the Division of Corporation Finance in regard to companies other than such registered investment companies in paragraphs (a), (e) and (f) of Article 30-1 (§ 200.30-1 of this chapter) of these articles.

(b-1) With respect to the Securities Act of 1933. (1) To issue notices with respect to applications for orders under section 3(a)(2) exempting from section 5 interests or participations issued in connection with stock bonus, pension, profit-sharing, or annuity plans covering employees some or all of whom are employees within the meaning of section 401(c)(1) of the Internal Revenue Code of 1954 where, upon examination, the matter does not appear to him to present issues not previously settled by the Commission or to raise questions of fact or policy indicating that the public interest or the interest of investors requires that a hearing be held.

(2) To authorize the issuance of orders where a notice has been issued and no request for a hearing has been received from any interested person within the period specified in the notice and the matter involved presents no issue that he believes has not been settled previously by the Commission and it does not appear to him to be necessary in the public interest or the interest of investors that a hearing be held.

(b-2) With respect to post-effective amendments filed pursuant to para

graph (a) of Rule 485 under the Act (17 CFR 230.485(a)) and post-effective amendments filed pursuant to paragraph (a) of Rule 486 under the Act (17 CFR 230.486(a)):

(1) To suspend the operation of said paragraphs and to issue written notices to registrants of such suspensions;

(2) To determine such amendments to be effective within shorter periods of time than the sixtieth day after the filing thereof.

(b-3) With respect to registration statements filed pursuant to paragraph (a) of Rule 487 under the Act (17 CFR 230.487(a)):

(1) To suspend the operation of said paragraph (a) and to issue written notices to registrants of such suspensions.

(c) With respect to the Securities Act of 1933 and Regulation E thereunder (§ 230.601, et seq. of this chapter): (1) To authorize the offering of securities:

(i) Less than ten days subsequent to the filing with the Commission of a notification on Form 1-E (§ 239.200 of this chapter) pursuant to Rule 604(a) (§ 230.604(a) of this chapter);

(ii) Less than ten days subsequent to the filing of an amendment to a notification on Form 1-E (§ 239.200 of this chapter) pursuant to Rule 604(c) (§ 230.604(c) of this chapter).

(2) To authorize the use of a revised or amended offering circular less than ten days subsequent to the filing thereof pursuant to Rule 605(e) (§ 230.605(e) of this chapter).

(3) To authorize the use of communications specified in paragraphs (a), (b) and (c) of Rule 607 (§ 230.607 of this chapter), less than five days subsequent to the filing thereof.

(4) To permit the withdrawal of any notification, or any exhibit or other documents filed as a part thereof, pursuant to Rule 604(d) (§ 230.604(d) of this chapter).

(c-1) With respect to the Securities Exchange Act of 1934: (1) To grant and deny applications filed pursuant to section 24(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78x(b)) and Rule 24b-2 thereunder (§ 240.24b2 of this chapter) for confidential treatment of information filed pursu

ant to section 13(f) of that Act (15 U.S.C. 78m(f)) and Rule 13f-1 thereunder (§ 240.13f-1 of this chapter); and

(2) To revoke a grant of confidential treatment for any such application.

(d) To issue certifications to investment companies which are principally engaged in the furnishing of capital to other corporations which are principally engaged in the development or exploitation of inventions, technological improvements, new processes, or products not previously generally available, pursuant to section 851(e) of the Internal Revenue Code of 1954 (26 U.S.C. 851(e)), where applications from such companies do not present issues not previously settled by the Commission and do not require a hearing.

(e) With respect to the Investment Advisers Act of 1940 (15 U.S.C. 80b-1, et seq.):

(1) Pursuant to section 203(c) of the Act (15 U.S.C. 80b-3(c)): To authorize the issuance of orders granting registration of investment advisers within 45 days of the filing of an application for registration as an investment adviser (or within such longer period as to which the applicant consents).

(2) Pursuant to section 203(h) of the Act (15 U.S.C. 80b-3(h)), to authorize the issuance of orders canceling registration of investment advisers, or applications for registration, if such investment advisers or applicants for registration are no longer in existence or are not engaged in business as investment advisers.

(3) To issue notices, pursuant to Rule 0-5(a) (§ 275.0-5(a) of this chapter), with respect to applications for orders under the following sections of the Act and the rules and regulations promulgated thereunder, where, upon examination, the matter does not appear to him to present issues not previously settled by the Commission or to raise questions of fact or policy indicating that the public interest or the interest of investors requires that a hearing be held:

(i) Section 202(a)(11)(F), 15 U.S.C. 80b-2(a)(11)(F).

(ii) Section 206A, 15 U.S.C. 80b-6a. (4) To authorize the issuance of orders where a notice, pursuant to

Rule 0-5(a) (§ 275.0-5(a) of this chapter), has been issued and no request for a hearing has been received from any interested person within the period specified in the notice and the matter involved presents no issue that he believes has not been previously settled by the Commission and it does not appear to him to be necessary in the public interest or the interest of investors that a hearing be held (section 211(c) of the Act, 15 U.S.C. 80b11(c)).

(5) To permit the withdrawal of applications pursuant to the Act (15 U.S.C. 80b-1, et seq.).

(6) Pursuant to Rule 204-2(j)(3)(ii) (§ 275.204-2(j)(3)(ii) of this chapter), to make written demands upon nonresident investment advisers subject to the provisions of such rule to furnish to the Commission true, correct, complete and current copies of any or all books and records which such nonresident investment advisers are required to make, keep current or preserve pursuant to any provision of any rule or regulation of the Commission adopted under the Act, or any part of such books and records which may be specified in any such demand.

(f) With respect to the Public Utility Holding Company Act of 1935 (15 U.S.C. 79a, et seq.):

(1) To issue notices with respect to applications or declarations under the following sections of the Act:

(i) Section 2(a)(3), 15 U.S.C. 79(b)(a)(3). (ii) Section 2(a)(4), 15 U.S.C. 79b(a)(4). (iii) Section 2(a)(7), 15 U.S.C. 79b(a)(7). (iv) Section 2(a)(8), 15 U.S.C. 79b(a)(8). (v) Section 3(a), 15 U.S.C. 79c(a). (vi) Section 3(b), 15 U.S.C. 79c(b). (vii) Section 5(d), 15 U.S.C. 79e(d). (viii) Section 6(b), 15 U.S.C. 79f(b). (ix) Section 7, 15 U.S.C. 79g.

(x) Section 9(c)(3), 15 U.S.C. 79i(c)(3). (xi) Section 10, 15 U.S.C. 79j. (xii) Section 11(e), 15 U.S.C. 79k(e). (xiii) Section 12(b), 15 U.S.C. 791(b). (xiv) Section 12(c), 15 U.S.C. 791(c). (xv) Section 12(d), 15 U.S.C. 791(d). (xvi) Section 12(e), 15 U.S.C. 791(e). (xvii) Section 12(f), 15 U.S.C. 791(f). (xviii) Section 12(g), 15 U.S.C. 791(g). (xix) Section 13(b), 15 U.S.C. 79m(b). (xx) Section 13(c), 15 U.S.C. 79m(c). (xxi) Section 13(d), 15 U.S.C. 79m(d). (xxii) Section 13(e), 15 U.S.C. 79m(e). (xxiii) Section 13(f), 15 U.S.C. 79m(f).

(2) To authorize the issuance of orders where a notice has been issued and no request for a hearing has been received from any interested person within the period specified in the notice and the matter involved presents no issue that the director believes has not previously been settled by the Commission and it does not appear to the director to be necessary in the public interest or the interest of investors or consumers that a hearing be held; section 20(c) of the Act (15 U.S.C. 79t(c));

(3) To permit the withdrawal of applications or declarations filed pursuant to the Act (15 U.S.C. 79a, et seq.);

(4) Upon a showing of good cause and that it would not be contrary to the public interest or inconsistent with the protection of investors or consumers, to grant reasonable extensions of time with respect to the time for the filing with the Commission of registration statements and of reports pursuant to section 20(a) of the Act (15 U.S.C. 79t(a)) and Rules 1(b), 1(c), 2, 24, and 29 (§§ 250.1(b), 250.1(c), 250.2, 250.4, and 250.29 of this chapter) thereunder;

(5) To issue notices and grant applications by a holding company or any subsidiary company thereof, under section 3(c) of the Act (15 U.S.C. 79c(c)), for revocation of previously granted exemptions from registration, unless, upon examination, the application appears to the director to present issues not previously settled by the Commission or to raise questions of fact or policy indicating that the public interest of investors or consumers requires that a hearing be held;

(6) To permit the filing of preliminary registration statements pursuant to section 5(c) of the Act (15 U.S.C. 79e(c));

(7) To authorize the destruction of records pursuant to the provisions of General Instruction 1(f) (§ 257.1(f) of this chapter) to the Appendix of the Uniform System of Accounts for Public Utility Holding Companies (§ 257.1, et seq. of this chapter) and pursuant to provisions of General Requirement 1(e) (§ 256a.0-1(e) of this chapter) of the Uniform System of Accounts for Mutual Service Companies

and Subsidiary Service Companies (§ 256.00-1, et seq., of this chapter);

(8) To authorize the discontinuance of reporting of information otherwise required to be reported under sections 5(b), 13(c), 13(e), 13(f), 14, and 20(a) of the Act (15 U.S.C. 79e(b), 79m(c), 79m(e), 79m(f), 79n, 79t(a));

(9) To grant extensions of time for filing registration statements and reports pursuant to sections 5(b), 13(c), 13(d), 13(f), 14, and 20(a) of the Act (15 U.S.C. 79e(b), 79m(c), 79m(d), 79m(f), 79n, 79t(a)).

(g) To designate officers empowered to administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, contracts, agreements, or other records in the course of investigations instituted by the Commission pursuant to section 209(b) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-9(b)), section 42(b) of the Investment Company Act of 1940 (15 U.S.C. 80a-41(b)), section 19(b) of the Securities Act of 1933 (15 U.S.C. 77s(b)), section 21(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78u(b)), section 8(e) of the Securities Act of 1933 (15 U.S.C. 77h(e)), and section 18(c) of the Public Utility Holding Company Act of 1935 (15 U.S.C. 79r(c)).

(h) In nonpublic investigatory proceedings within the responsibility of the Director, to grant requests of persons to procure copies of the transcript of their testimony given pursuant to Rule 6 of the Commission's Rules Relating to Investigations as in effect subsequent to November 16, 1972 (§ 203.6 of this chapter).

(i) Notwithstanding anything in the foregoing:

(1) The Director of the Division of Investment Management shall have the same authority with respect to the Securities Act of 1933 (15 U.S.C. 77a, et seq.), Regulation A (17 CFR 230.251, et seq.) and Regulation F (17 CFR 230.651, et seq.) as that delegated to each Regional Administrator in paragraphs (b)(1), (b)(2) and (b)(3), and in paragraphs (c) and (f) of Article 30-6 of the Commission's Statement of Organization, Conduct and Ethics, and