Investment Company Act Amendments of 1995

[AI summary unavailable — showing source text] Investment Company Act Amendments of 1995 - Amends the Investment Company Act of 1940 with respect to corporate governance to change from 60 percent to at least a majority the required portion of the board of directors of a registered investment company which are not interested persons of the company. Modifies the guidelines for: (1) investment advisory and underwriting contracts; (2) selection of accountants and auditors; (3) changes in investment policy; (4) information filing; (5) voting procedures; and (6) the definition of a majority vote. States that the Securities and Exchange Commission (SEC) shall permit the use of a prospectus which makes an offer in the form of advertisement for securities issued by a registered investment company. Revises the guidelines for the: (1) maintenance and preservation of investment company records for the SEC; and (2) annual reports to the SEC and shareholders. Authorizes the SEC to exempt a registered open-end investment company ("exempted company") from specified statutory prescriptions, including breach of fiduciary duty. Mandates that the board of directors of such "exempted company" shall be composed of persons at least two-thirds of whom…