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SEC RIN: 3235-AL02 Publication ID: 2012 
Title: Purchase of Debt Securities by Business and Industrial Development Companies Relying on an Investment Company Act Exemption 
Abstract: The Commission proposed (i) to amend two rules (Rules 2a-7 and 5b-3) and four forms (Forms N-1A, N-2, N-3, and N-MFP) under the Investment Company Act that reference credit ratings and (ii) a new rule under that Act that would set forth a credit quality standard in place of a credit rating removed by the Dodd-Frank Act from section 6(a)(5)(A)(iv)(1) of that Act. These proposals would give effect to provisions of section 939A of the Dodd-Frank Act. The Commission adopted Rule 6a-5 which sets forth a credit quality standard to replace the one removed from section 6(a)(5)(A)(iv)(1) by the Dodd-Frank Act. 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 270.2a-7    17 CFR 270.5b-3    17 CFR 270.6a-5 (new)    17 CFR 274.201    17 CFR 239.15A    17 CFR 274.11A    17 CFR 239.14    17 CFR 274.11a-1    17 CFR 239.17A    17 CFR 274.11b   
Legal Authority: 15 USC 80a-6(c)    15 USC 80a-8    15 USC 80a-14(a)    15 USC 80a-29    15 USC 80a-30(a)    15 USC 80a-37    15 USC 77e    15 USC 77f    15 USC 77g    15 USC 77j    15 USC 77s(a)    PL 111-203, sec 939    PL 111-203, sec 939A   
Legal Deadline:
Action Source Description Date
Final  Statutory  Dodd-Frank Act requires final rules within a year of enactment.  07/21/2011 
Action Date FR Cite
NPRM  03/09/2011  76 FR 12896   
NPRM Comment Period End  04/25/2011    
Final Action  11/23/2012  77 FR 70117   
Final Action Effective  12/24/2012 
Final Action  03/00/2013 
Regulatory Flexibility Analysis Required: Yes  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses  Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Information URL:  
RIN Data Printed in the FR: Yes 
Related RINs: Related to 3235-AK19 
Agency Contact:
Anu Dubey
Division of Investment Management
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-6792

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