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The SBA issues new instructions for SBICs drawing leverage

  • Locke Lord LLP
  • -
  • USA
  • -
  • March 8 2013

The U.S. Small Business Administration (the "SBA") recently issued new instructions governing the draw request (a "Draw Request") that small business

SBA policy change regarding buyouts of SBICs with outstanding participating securities leverage

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 12 2011

On January 3, 2011, the SBA announced a new policy governing its approval of buyouts of active SBICs that have outstanding participating securities leverage

New registration and reporting requirements for private fund managers take effect soon

  • Locke Lord LLP
  • -
  • USA
  • -
  • February 18 2011

Private fund advisers that have been exempt from registering with the SEC under the Investment Advisers Act of 1940 (the "Advisers Act") may soon be required to register due to changes made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"

New registration and reporting requirements for private fund managers may be postponed

  • Locke Lord LLP
  • -
  • USA
  • -
  • April 27 2011

Private fund advisers that have been exempt from registering with the SEC under the Investment Advisers Act of 1940 may not be required to comply with the registration and reporting requirements, recently proposed by the SEC in connection with Title IV of the Dodd-Frank Act, as soon as originally expected

SEC adopts final rules implementing the Dodd-Frank Act

  • Locke Lord LLP
  • -
  • USA
  • -
  • June 30 2011

On June 22, 2011, the Securities and Exchange Commission adopted final rules and rule amendments under the Investment Advisers Act of 1940 to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act

Institutional investor status recertification

  • Locke Lord LLP
  • -
  • USA
  • -
  • May 17 2011

On May 16, 2011, the SBA issued Memorandum 2011-1 regarding annual recertification of SBIC Institutional Investors

New record low interest rate for latest pooling of SBIC debentures announced

  • Locke Lord LLP
  • -
  • USA
  • -
  • September 22 2011

The U.S. Small Business Administration (SBA) has announced that the latest pooling of Small Business Investment Company (SBIC) Debentures was priced at 2.877, which is the lowest pricing of a debenture pooling in the history of the SBIC program

SBA further revises Form 468 reporting obligations in response to industry concerns

  • Locke Lord LLP
  • -
  • USA
  • -
  • October 25 2011

In response to Industry concerns, the U.S. Small Business Administration (SBA) has revised the reporting requirements of SBA form 468 in an effort to reduce the compliance burdens on Small Business Investment Companies (SBICs

SBA releases proposed rules to govern new early stage investment

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 14 2011

On January 31, 2011, President Obama announced an initiative called “Start-up America,” which is a program designed to promote high-growth entrepreneurship in the United States

A SBIC’s control of a small business is limited to seven years

  • Locke Lord LLP
  • -
  • USA
  • -
  • February 24 2012

Pursuant to the regulations governing Small Business Investment Companies (“SBICs”), an SBIC is permitted to make a controlling investment in a portfolio company