Political Quotes

“I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of title IV, insert the following: Subtitle X--Modernized Offering and Proxy Rules for Closed-End Funds SEC. 499A. PARITY FOR CLOSED-END COMPANIES REGARDING OFFERING AND PROXY RULES. (a) Revision to Rules.--Not later than 1 year after the date of enactment of this Act, the Securities and Exchange Commission shall revise any rules to the extent necessary to allow any closed-end company, as defined in section 5(a)(2) of the Investment Company Act of 1940 (15 U.S.C. 80a-5), that is registered as an investment company under such Act to use the securities offering and proxy rules that are available to other issuers that are required to file reports under section 13 or section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m; 78o(d)). Any action that the Commission takes pursuant to this subsection shall include the following: (1) The Commission shall revise section 230.405 of title 17, Code of Federal Regulations, to-- (A) remove the exclusion of a registered closed-end company from the definition of a well-known seasoned issuer provided by that section; and (B) add registration statements filed on Form N-2 to the definition of automatic shelf registration statement provided by that section.…”