[37 FR 16796, Aug. 19, 1972, as amended at 37 FR 25166, Nov. 28, 1972; 40 FR 14748, Apr. 2, 1975]

§ 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. 80a3(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. 80a10(e).

(ix) Section 10(f), 15 U.S.C. 80a10(f).

(x) Section 11(a), 15 U.S.C. 80a11(a).

(xi) Section 12(g), 15 U.S.C. 80a12(g).

(xii) Section 16(a), 15 U.S.C. 80a16(a).

(xiii) Section 17(b), 15 U.S.C. 80a17(b).

(xiv) Section 17(d), 15 U.S.C. 80a17(d).

(xv) Section 17(e), 15 U.S.C. 80a17(e).

(xvi) Section 17(f), 15 U.S.C. 80a17(f).

(xvii) Section 17(g), 15 U.S.C. 80a17(g).

(xviii) Section 18(j), 15 U.S.C. 80a18(j).

(xix) Section 23(b), 15 U.S.C. 80a23(b).

(xx) Section 23(c), 15 U.S.C. 80a23(c).

(xxi) Section 28(c), 15 U.S.C. 80a28(c).

(xxii) Section 31(d), 15 U.S.C. 80a30(d).

(xxiii) Section 32(c), 15 U.S.C. 80a31(c).

(xxiv) Section 45(a), 15 U.S.C. 80a44(a).

(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 bal

ance 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 and pooled investment funds or accounts arising under the Securities Act of 1933, the Securities Exchange 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 sections (a), (c) and (d) 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.

(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 Chatper).

(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.

(f) 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)) and section 8(e) of the Securities Act of 1933 (15 U.S.C. 77h(e)).

(g) 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).

(h) 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 (§ 230.251, et seq. of this Chapter), and Regulation F (§ 230.651, et seq. of this Chapter), as that delegated to each Regional Administrator in paragraphs (a), (b) and (d) of Article 30-6 of the Commission's Statement of Organization, Conduct and Ethics, and Information and Requests (§ 200.30-6 of this Chapter).

(2) In any case in which the Director of the Division of Investment Management believes it appropriate, he may submit the matter to the Commission.

(Pub. L. 91-567, 84 Stat. 1497 (15 U.S.C. 77c(a)(2)); Pub. L. 87-592, 76 Stat. 394, as amended by Pub. L. 94-29, 89 Stat. 163 (15 U.S.C. 78d-1, 78d-2); (15 U.S.C. 80a-44))

[41 FR 29376, July 16, 1976; 41 FR 40461, Sept. 20, 1976, as amended at 43 FR 755, Jan. 4, 1978; 43 FR 3258, Jan. 24, 1978; 43 FR 3557, Jan. 26, 1978]

§ 200.30-6 Delegation of authority to Regional Administrators.

Pursuant to the provisions of Pub. L. 87-592, 76 Stat. 394, the Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to each Regional Administrator, 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 Securities Act of 1933, 15 U.S.C. 77a et seq. and Regulation A thereunder, § 230.251 et seq. of this chapter:

(1) To authorize the offering of securities:

(i) Less than ten days subsequent to the filing with the Regional Office of notification on Form 1-A, pursuant to Rule 255(a), § 230.255(a) of this chapter, or

(ii) Less than ten days subsequent to the filing of an amendment to a notification on Form 1-A, pursuant to Rule 255(d), § 230.255(d) of this chapter or Rule 256(f), § 230.256(f) of this chapter;

(2) To authorize the use of sales material less than five days subsequent to its filing with the Regional Office pur

suant to Rule 258, § 230.258 of this chapter;

(3) To permit the furnishing of financial statements as of dates earlier than 90 days prior to the filing of notifications, but not exceeding six months, pursuant to Item 11(a)(1) of Schedule I and Rule 256 and Rule 257, §§ 230.256 and 230.257 of this chapter; (4) To issue orders declaring notifications on Form 1-A § 239.90 of this chapter) abandoned pursuant to Rule 264 (§ 230.264 of this chapter).

(b) With respect to the Securities Act of 1933, 15 U.S.C. 77a et seq. and Regulation F thereunder, § 230.652, et seq. of this chapter:

(1) To authorize the offering of securities less than ten days subsequent to the filing with the Regional Office of notification on Form 1-F, pursuant to Rule 652, § 230.652 of this chapter;

(2) To authorize the use of sales material less than ten days subsequent to its filing with the Regional Office pursuant to Rule 654, § 230.654 of this chapter;

Pursuant

(c) With respect to the Securities Exchange Act of 1934, 15 U.S.C. 78a et seq.: to Rule 17a-5(d) (§ 240.17a-5(d) of this chapter), to consider applications by brokers and dealers for extensions of time within which to file reports required by Rule 17a-5 (§ 240.17a-5 of this chapter), and to grant, and to authorize the issuance of orders denying, such applications: Provided, Such applicant is advised of his right to have such denial reviewed by the Commission.

(d) In nonpublic investigatory proceedings within the responsibility of the Regional Administrator, 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 [17 CFR 203.61.

(e) Notwithstanding anything in the foregoing, in any case in which the Regional Administrator believes it appropriate, he may submit the matter to the Commission.

(Secs. 3(b), 19(a), 48 Stat. 75, 85; sec. 209, 48 Stat. 908; c. 122, 59 Stat. 167; Pub. L. 91-565, 84 Stat. 1480; 15 U.S.C. 77c(b), 77s(a), 78d-1, 78n, 80a-37)

[28 FR 2856, Mar. 22, 1963, as amended at 36 FR 7659, Apr. 23, 1971. Redesignated at 37 FR 16792, Aug. 19, 1972; amended at 37 FR 25166, Nov. 28, 1972; 42 FR 54531, Oct. 7, 1977]

§ 200.30-7 Delegation of authority to Secretary of the Commission.

Pursuant to the provisions of Pub. L. 87-592, 76 Stat. 394 (15 U.S.C. 78d-1), the Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to the Secretary of, the Commission 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 proceedings conducted pursuant to the Securities Act of 1933, 15 U.S.C. 77a et seq., the Securities Exchange Act of 1934, 15 U.S.C. 78a et seq., the Public Utility Holding Company Act of 1935, 15 U.S.C. 79a et seq., the Trust Indenture Act of 1939, 15 U.S.C. 77aaa et seq., the Investment Company Act of 1940, 15 U.S.C. 80a-1 et seq., and the Investment Advisers Act of 1940, 15 U.S.C. 80b-1 et seq.:

(1) To fix the time and place for hearings and oral arguments before the Commission pursuant to Rule 21(a) of the Commission's rules of practice, § 201.21(a) of this chapter;

(2) In appropriate cases to extend and reallocate the time prescribed in Rule 21(b) of the Commission's rules of practice, § 201.21(b) of this chapter;

(3) To postpone or adjourn hearings or otherwise adjust the date for commencement of hearings before the Commission pursuant to Rule 13 of the Commission's rules of practice, § 201.13 of this chapter, and to advance such hearings;

(4) To grant extensions of time within which to file papers before the Commission pursuant to Rule 13 of the Commission's rules of practice, § 201.13 of this chapter;

(5) To permit the filing of briefs with the Commission exceeding 60 pages in length, pursuant to Rule 22(d) of the Commission's rules of practice, § 201.22(d) of this chapter;

(6) To certify records of proceedings upon which are entered orders the subject of review in courts of appeals

pursuant to section 9 of the Securities Act of 1933, 15 U.S.C. 77i, section 25 of the Securities Exchange Act of 1934, 15 U.S.C. 78y, section 24 of the Public Utility Holding Company Act of 1935, 15 U.S.C. 79x, section 322(a) of the Trust Indenture Act of 1939, 15 U.S.C. 77vvv, section 43 of the Investment Company Act of 1940, 15 U.S.C. 80a42, and section 213 of the Investment Advisers Act of 1940, 15 U.S.C. 80b-13;

(7) Except where the Commission otherwise directs, to issue findings and orders pursuant to offers of settlement which the Commission has determined should be accepted;

(8) To issue findings and orders taking the remedial action described in the order for proceedings where a respondent expressly consents to such action, fails to appear, or defaults in the filing of an answer required to be filed and to grant a request, based upon a showing of good cause, to vacate an order or default, so as to permit presentation of a defense;

(9) To designate officers of the Commission to serve notices of and orders for proceedings and decisions and orders in such proceedings, the service of which is required by rules 6 and 23 of the Commission's rules of practice.

(b) To order the making of private investigations pursuant to section 21(a) of the Securities Exchange Act of 1934, on request of the Division of Corporation Finance or the Division of Enforcement, with respect to proxy contests subject to section 14 of that Act and regulation 14A thereunder, and tender offers filed pursuant to section 14(d) of the Act.

(c) Notwithstanding anything in the foregoing, in any case in which the Secretary of the Commission believes it appropriate he or she may submit the matter to the Commission.

(15 U.S.C. 78d, 78–1 78d-2)

[35 FR 17989, Nov. 24, 1970. Redesignated at 37 FR 16792, Aug. 19, 1972, and amended at 38 FR 12913, May 17, 1973; 40 FR 46107, Oct. 6, 1975; 43 FR 13377 Mar. 30, 1978]

§ 200.30-8 Delegation of authority to Director of Office of Opinions and Review.

Pursuant to the provisions of Pub. L. 87-592, 76 Stat. 394, as amended, the

Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to the Director of the Office of Opinions and Review, to be performed by such Director or under his or her direction by such person or persons as may be designated from time to time by the Chairman of the Commission:

(a)(1) With respect to proceedings conducted pursuant to the Securities Act of 1933, (15 U.S.C. 77a, et seq.), the Securities Exchange Act of 1934, (15 U.S.C. 78a, et seq.), the public Utility Holding Company Act of 1935, (15 U.S.C. 79a, et seq.), the Trust Indenture Act of 1939, (15 U.S.C. 77aaa, et seq.), the Investment Company Act of 1940, (15 U.S.C. 80a-1, et seq.), and the Investment Advisers Act of 1940, (15 U.S.C. 80b-1, et seq.), the Securities Investor Protection Act of 1970 (15 U.S.C. 78aaa, et seq.), and the provisions of Rule 2(e) of the Commission's rules of practice (§ 201.2(e) of this Chapter);

(i) To consider an application for review of an interlocutory ruling which an administrative law judge has refused to certify, and to deny such application upon determining that the administrative law judge did not err in refusing to certify the matter.

(ii) To consider an interlocutory ruling which an administrative law judge has certified, and to affirm such ruling upon determining that such action is appropriate.

(iii) To issue any order pursuant to an initial decision as to any person who has not filed a petition for review within the time provided, where the Commission has not on its own motion ordered that the initial decision be reviewed.

(iv) Except where the Commission otherwise directs, to issue findings and orders pursuant to offers of settlement which the Commission has determined should be accepted.

(v) To grant petitions for full review of initial decisions by a hearing offi

cer.

(vi) To grant motions of staff counsel to discontinue administrative proceedings as to a particular respondent who has died or cannot be found, or