950 CMR 13.306 - Notice Filings for Offerings of Investment Company Securities
(A)
Initial Notice Filing
Requirements. An open-end investment company, face amount
certificate company or a unit investment trust shall file a notice with the
Division in order to offer or sell an indefinite amount of securities. A
separate notice shall be filed for each class, series or portfolio of
investment company securities.
(1) The
initial notice filing for an open-end investment company or face amount
certificate company is effective from the date of receipt by the Division or
its effective date with the Securities and Exchange Commission, whichever is
later, until two months after the end of the issuer's current fiscal year. The
notice filing shall include:
(a) Uniform Form
NF;
(b) Form U-2 (U-2A, if
applicable); and
(c) $2500 filing
fee.
(2) The notice
filing for a unit investment trust is effective from the date of receipt by the
Division or its effective date with the Securities and Exchange Commission,
whichever is later. The notice filing shall include:
(a) Uniform Form NF;
(b) Form U-2 (U-2A, if applicable);
and
(c) a one-time $750 filing
fee.
(3) The initial
notice filing for a closed-end fund is effective for one year from the date of
receipt by the Division or its effective date with the Securities and Exchange
Commission, whichever is later. The notice filing shall include:
(a) Uniform Form NF;
(b) Form U-2 (U-2A, if applicable);
and
(c) A filing fee of 1/20 of 1%
of total amount offered in Massachusetts for the closed-end fund (minimum $300;
maximum $1500).
(B)
Annual Notice Filing
Requirements. An annual notice filing for an open-end investment
company or a face amount certificate company shall be filed with the Division
within two months after the end of its fiscal year. A separate notice shall be
filed for each class, series or portfolio of investment company securities.
(1) The annual notice filing shall include:
(a) Uniform Form NF;
(b) Form U-2/U-2A (if there are any
changes);
(c) $1250 filing
fee.
(2) An investment
company whose fiscal year end is within three months of the initial
registration with the Division shall comply with its annual reporting
requirements by filing the required materials within two months of the end of
that investment company's next fiscal year.
(3) An investment company which changes its
fiscal year end shall comply with its annual reporting requirements within two
months of the end of the shortened fiscal year.
(C)
Closed-end Fund Reporting
Requirements. A closed-end fund whose securities will continue to
be offered or distributed beyond the anniversary of its filing with the
Division or its effectiveness with the Securities and Exchange Commission,
whichever is later, shall file the following:
(a) Uniform Form NF;
(b) Form U-2 (U-2A, if applicable);
and
(c) A filing fee of 1/20 of 1%
of total amount offered in Massachusetts for the closed-end fund (minimum $300;
maximum $1500).
(D)
Other Filings.
(1)
Investment companies on file with the Division should notify the Division of
any material changes to the information on file (including but not limited to
name changes, mergers, acquisitions and terminations) by completing the
applicable sections of Uniform Form NF and filing the same with the Division.
There is no fee for such filings.
(2) An investment company that has made a
notice filing under this section and is registered under the Investment Company
Act of 1940 or that has filed a registration statement under the Securities Act
of 1933 shall file, upon written request of the Director and within the time
period set forth in the request, a copy of any document, identified in the
request, that is part of the federal registration statement filed with the SEC
or part of an amendment to such federal registration statement.
(3) The Division may adopt rules with respect
to notice filings for investment companies other than open-end, closed-end,
face amount certificate companies or unit investment
trusts.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.