15 U.S. Code § 80a–32 - Filing of documents with Commission in civil actions

Every registered investment company which is a party and every affiliated person of such company who is a party defendant to any action or claim by a registered investment company or a security holder thereof in a derivative or representative capacity against an officer, director, investment adviser, trustee, or depositor of such company, shall file with the Commission, unless already so filed,
(1) a copy of all pleadings, verdicts, or judgments filed with the court or served in connection with such action or claim,
(2) a copy of any proposed settlement, compromise, or discontinuance of such action, and
(3) a copy of such motions, transcripts, or other documents filed in or issued by the court or served in connection with such action or claim as may be requested in writing by the Commission. If any document referred to in clause (1) or (2)—
(A) is delivered to such company or party defendant, such document shall be filed with the Commission not later than ten days after the receipt thereof; or
(B) is filed in such court or delivered by such company or party defendant, such documents shall be filed with the Commission not later than five days after such filing or delivery.

Source

(Aug. 22, 1940, ch. 686, title I, § 33,54 Stat. 839; Pub. L. 91–547, § 19,Dec. 14, 1970, 84 Stat. 1428.)
Amendments

1970—Pub. L. 91–547inserted provision for party acting in representative capacity and substituted provisions for prompt filing with the Commission of copies of all pleadings, verdicts, judgments, settlements, compromises, or discontinuances served or filed in suits by a registered investment company or a security holder thereof against an officer, director, investment adviser, trustee, or depositor of such company and of copies of motions, transcripts, or other documents if the Commission requests them for prior requirement that registered companies and their affiliated persons who are defendants in derivative suits involving an alleged breach of official duty transmit to the Commission copies of the pleadings and the record in such actions after a settlement or compromise of the action has been approved by a court of competent jurisdiction or a verdict or final judgment on the merits has been rendered, Commission use of information, and nondisclosure of identity of persons.
Effective Date of 1970 Amendment

Amendment by Pub. L. 91–547effective Dec. 14, 1970, see section 30 ofPub. L. 91–547, set out as a note under section 80a–52 of this title.
Transfer of Functions

For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.

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17 CFR - Commodity and Securities Exchanges

17 CFR Part 270 - RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940

 

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