0001752724-23-019558.txt : 20230206 0001752724-23-019558.hdr.sgml : 20230206 20230206061144 ACCESSION NUMBER: 0001752724-23-019558 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221130 FILED AS OF DATE: 20230206 DATE AS OF CHANGE: 20230206 EFFECTIVENESS DATE: 20230206 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: 23588292 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 800 STREET 2: C/O FLAHERTY & CRUMRINE INC CITY: PASADENA STATE: CA ZIP: 91101 FORMER COMPANY: FORMER CONFORMED NAME: Flaherty & Crumrine PREFERRED INCOME OPPORTUNITY FUND INC DATE OF NAME CHANGE: 20050708 FORMER COMPANY: FORMER CONFORMED NAME: PREFERRED INCOME OPPORTUNITY FUND INC DATE OF NAME CHANGE: 19920929 N-CEN 1 primary_doc.xml X0404 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 800 Pasadena 91101 US-CA US 626-795-7300 Computershare Trust Company, N.A. 150 Royall Street Canton 02021 781-575-2000 Records related to its functions as Transfer Agent and Shareholder Servicing Agent. 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 800 Pasadena 91101 626-795-7300 Records related to its function as Advisor. N N N-2 Y David Gale N/A N Karen H. Hogan N/A N Morgan Gust N/A N R. Eric Chadwick 004519380 Y Chad C. Conwell 005041482 301 East Colorado Boulevard Suite 800 Pasadena 91101 XXXXXX N N N N N N KPMG LLP 00185 5493003PVCIGA21K0K42 N N N N N N N Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated 2549008Y9TGWYEWYW496 N 0 0 0 N/A N N N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-1 (17 CFR 270.12d1-1) N N N N Flaherty & Crumrine Incorporated 801-19384 000105499 2549000IWBOG75EEB694 N Computershare Trust Company, N.A. 085-11340 2549001YYB62BVMSAO13 N N Y Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 N 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 Computershare Trust Company, N.A. 2549001YYB62BVMSAO13 N N Y The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N 0.00000000 Societe Generale N/A N/A O2RNE8IBXP4R0TD8PU41 FR 1050000.00000000 BNP PARIBAS SECURITIES CORP. 008-32682 000015794 RCNB6OTYUAMMP879YW96 1652500.00000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 2156500.00000000 BOFA SECURITIES, INC. 008-69787 000283942 549300HN4UKV1E2R3U73 5017500.00000000 CitiGroup Global Markets Inc. 008-08177 000007059 MBNUM2BPBDO7JBLYG310 1000000.00000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 1786489.00000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 820000.00000000 UBS SECURITIES LLC 008-22651 000007654 T6FIZBDPKLYJKFCRVK44 900100.00000000 JEFFERIES LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 934666.00000000 WELLS FARGO SECURITIES, LLC 008-65876 000126292 VYVVCKR63DVZZN70PB21 3156379.00000000 22676806.00000000 N 137480654.28000000 0.00000000 Common stock Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated N Common stock N N N N 0.88470000 2.66000000 9.33000000 9.40000000 false false true false false false false false false false false INTERNAL CONTROL RPT 2 g.1.a.iii_PFO.htm PDFtoHTML Conversion Output

KPMG LLP

Two Financial Center

60 South Street

Boston, MA 02111

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors

Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated:

In planning and performing our audit of the financial statements of Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (the Fund) as of and for the year ended November 30, 2022, 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 company'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 company'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 company; (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 company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company'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 company's 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, 2022.

This report is intended solely for the information and use of the management and the Board of Directors of Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated 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 20, 2023

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.