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SEC Adopts Rule Modifying Fund Valuation Oversight Practices

USA - December 7 2020 On Dec. 3, the Securities and Exchange Commission (SEC) adopted a new rule (Rule 2a-5) under the Investment Company Act of 1940 (the 1940 Act) that...

Nicholas Tarnowski.

SEC Updates ‘Fund of Funds’ Rules for Registered Investment Companies, Business Development Companies

USA - November 2 2020 The Securities and Exchange Commission (SEC) recently overhauled the rules applicable to “fund of funds” arrangements (where funds invest in other...

Nicholas Tarnowski.

SEC Adopts New Rules Regarding Use of Derivatives by Registered Investment Companies and Business Development Companies

USA - October 28 2020 On Oct. 28, 2020, the Securities and Exchange Commission (SEC) voted to adopt a new rule (Rule 18f-4) and other related amendments, significantly...

Zachary Karlan, Nicholas Tarnowski.

SEC Streamlines Procedures for Exemptive Applications Under the Investment Company Act of 1940

USA - July 14 2020 On July 6, the Securities and Exchange Commission (SEC or Commission) announced its long-awaited adoption of amendments (the Amendments) to Rule 0-5...

Nicholas Tarnowski, Ronald M. Feiman.

SEC Releases Risk Alert on Observations From Examinations of Investment Advisers Managing Private Funds

USA - July 8 2020 On June 23, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released a risk alert (the Risk Alert) that identified three general...

Kevin P. Scanlan, Zachary Karlan, Ronald M. Feiman.