SEC Requests Comment on Manner in which Sarbanes-Oxley Act Certification Requirements Should Apply to Registered Investment Companies
The SEC issued a release (the "Release") discussing its plans to issue rules to comply with the requirements of Section 302 of the Sarbanes -Oxley Act of 2002 (the "Act"). Under Section 302, the SEC must promulgate rules requiring certain company officers to certify various matters in periodic reports submitted to the SEC. Under the Act, rules pursuant to Section 302 are to apply to any company filing periodic reports under Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The extent to which rules under Section 302 will apply to registered investment companies is unclear. In the Release, the SEC requested comment on how its rulemaking should address issues that may be of specific concern in the registered investment company context, such as (i) the manner of making the required certifications, (ii) the
