Securities Act Release No. 4936

December 9, 1968

Guides for Preparation and Filing of Registration Statements.

The Securities and Exchange Commission has published guides for the preparation and filing of registration statements under the Securities Act of 1933. The guidelines are policies and practices followed by the SEC's Division of Corporate Finance in administering the registration requirements of the Act, but are not complete criteria for the preparation of registration statements. The guides do not represent rules of the Commission or do they bear the Commission's official approval.

 On December 20, 1967 the Commission published in Securities Act Release No. 4890 certain proposed guides for the preparation and filing of registration statements under the Securities Act of 1933 and invited the views and comments of interested persons thereon. These proposed guides represent a revision and expansion of those previously published in Securities Act Release No. 4666. A considerable number of very helpful comments were received in response to the above invitation and all of such comments have been carefully considered in the preparation of the definitive version of the guides, the text of which is attached hereto.

Certain changes have been made in the guides as a result of the staff's review of the comments submitted and as a result of its further consideration of the various matters involved. The guides are subject to review and modification from time to time as circumstances may require and interested persons are invited to submit, at any time, suggestions for such modifications or for the publication of guides covering additional matters.

These guides are not rules of the Commission nor are they published as bearing the Commission's official approval. They represent policies and practices followed by the Commission's Division of Corporation Finance in the administration of the registration requirements of the Act, but do not purport to furnish complete criteria for the preparation of registration statements.

The staff of the Division of Corporate Regulation is in the process of preparing guides describing the practices and policies followed by that Division in the examination and processing of registration statements filed by registered investment companies.