17 CFR 270.2a-2
§ 270.2a-2 Effect of eliminations upon valuation of portfolio securities.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
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- Citation
- 17 CFR 270.2a-2, § 270.2a-2 Effect of eliminations upon valuation of portfolio securities, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69912
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Full text
During any fiscal quarter in which elimination of securities from the portfolio of an investment company occur, the securities remaining in the portfolio shall, for the purpose of sections 5 and 12 of the Act (54 Stat. 800, 808; 15 U.S.C. 80a-5, 80a-12), be so valued as to give effect to the eliminations in accordance with one of the following methods:
(a) Specific certificate,
(b) First in—first out,
(c) Last in—first out, or
(d) Average value.
For these purposes, a single method of elimination shall be used consistently with respect to all portfolio securities. In giving effect to eliminations pursuant to this section values shall be computed in accordance with section 2(a)(41)(A) of the Act (54 Stat. 790; 15 U.S.C. 80a-2(a)(41)(A)).
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.