The Investment Company Committee of the Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) on proposed amendments to Rule 10f-3 under the Investment Company Act with respect to government securities offerings, Release No. IC-24775, File No. S7-20-00.  SIA urges the SEC not to adopt the portion of the proposal which would make the 25 percent limit in the rule more restrictive by including purchases by both fund and non-fund accounts advised or controlled by the adviser.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.