0001752724-19-004316.txt : 20190212 0001752724-19-004316.hdr.sgml : 20190212 20190212111256 ACCESSION NUMBER: 0001752724-19-004316 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20181130 FILED AS OF DATE: 20190212 DATE AS OF CHANGE: 20190212 EFFECTIVENESS DATE: 20190212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Flaherty & Crumrine PREFERRED INCOME OPPORTUNITY FUND INC CENTRAL INDEX KEY: 0000882071 IRS NUMBER: 954355600 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-06495 FILM NUMBER: 19588879 BUSINESS ADDRESS: STREET 1: 301 E COLORADO BLVD STE 720 STREET 2: C/O FLAHERTY & CRUMRINE INC CITY: PASADENA STATE: CA ZIP: 91101 BUSINESS PHONE: (626) 795-7300 MAIL ADDRESS: STREET 1: 301 COLORADO BLVD STE 720 STREET 2: C/O FLAHERTY & CRUMRINE INC CITY: PASADENA STATE: CA ZIP: 91101 FORMER COMPANY: FORMER CONFORMED NAME: PREFERRED INCOME OPPORTUNITY FUND INC DATE OF NAME CHANGE: 19920929 N-CEN 1 primary_doc.xml X0101 N-CEN LIVE 0000882071 XXXXXXXX 811-06495 false false false N-2 Flaherty & Crumrine Preferred Income Opportunity Fund Inc 811-06495 0000882071 2549008Y9TGWYEWYW496 301 East Colorado Boulevard Suite 720 Pasadena 91101 US-CA US 626-795-7300 The Bank of New York Mellon 201 Washington Street 13th Floor Boston 02109 617-248-3617 Records related to its function as Administrator. The Bank of New York Mellon 4400 Computer Drive Westborough 01581 508-871-9846 Records related to its function as Custodian. Flaherty & Crumrine Incorporated 301 East Colorado Boulevard Suite 720 Pasadena 91101 626-795-7300 Records related to its function as Advisor. Y N N-2 1 Y R. Eric Chadwick 004519380 Y David Gale N/A N Karen H. Hogan N/A N Morgan Gust N/A N Chad C. Conwell 005041482 301 East Colorado Boulevard Suite 720 Pasadena 91101 XXXXXX N N N N N N N KPMG LLP 185 5493003PVCIGA21K0K42 N N N N N N Flaherty & Crumrine Preferred Income Opportunity Fund Inc 2549008Y9TGWYEWYW496 Y 1 0 0 N/A N N N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) N N N N Flaherty & Crumrine Incorporated 801-19384 000105499 2549000IWBOG75EEB694 N BNY Mellon Investment Servicing (US) Inc. 084-01761 549300CFZQLI9QMJ1Z03 N N N Interactive Data Pricing and Reference Data LLC 5493000F4ZO33MV32P92 N Flaherty & Crumrine Inc. 2549000IWBOG75EEB694 Y Thomson Reuters Corporation 549300561UZND4C7B569 CA N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N CITIGROUP GLOBAL MARKETS, INC. 008-08177 000007059 MBNUM2BPBDO7JBLYG310 111.25000000 111.25000000 WILLIAM BLAIR & COMPANY, LLC 008-02698 000001252 549300J0P7XYE8BMZ775 2236502.50000000 CABRERA CAPITAL MARKETS, LLC 008-26406 000010081 254900BIRJU76JRBK985 6225886.22000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 2809000.00000000 WELLS FARGO SECURITIES LLC 008-65876 000126292 VYVVCKR63DVZZN70PB21 1958611.16000000 CREDIT SUISSE SECURITIES (USA) LLC 008-00422 000000816 1V8Y6QCX6YMJ2OELII46 2187812.50000000 CANTOR FITZGERALD & CO. 008-00201 000000134 5493004J7H4GCPG6OB62 2090830.00000000 R. SEELAUS & CO., INC. 008-31475 000014974 2138004J7AJDLCOJYA06 1298908.60000000 PIPER JAFFRAY & CO. 008-15204 000000665 549300GRQCWQ3XGH0H10 2036610.00000000 HSBC SECURITIES (USA), INC. 008-41562 000019585 CYYGQCGNHMHPSMRL3R97 3435025.00000000 Merrill Lynch, Pierce, Fenner & Smith Incorporated 008-07221 000007691 8NAV47T0Y26Q87Y0QP81 3569485.00000000 35827520.19000000 N 142711725.00000000 0.00000000 Common stock C000000000 N N N N N N 0.55580000 2.71000000 10.94000000 10.54000000 true INTERNAL CONTROL RPT 2 g1aiii_pfo.htm Form 8-K

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors for

Flaherty & Crumrine Preferred Income Opportunity Fund Incorporated:

In planning and performing our audit of the financial statements of Flaherty & Crumrine Preferred Income Opportunity Fund Incorporated (the “Fund”), as of and for the year ended November 30, 2018, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the funds; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the funds are being made only in accordance with authorizations of management and directors of the funds; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a fund’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Funds’ annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of November 30, 2018.

This report is intended solely for the information and use of management and the Board of Directors of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

 

/s/ KPMG LLP

Boston, Massachusetts

January 22, 2019