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SEC Adopts Amendments Updating the ‘Fund of Funds’ Regulatory Framework for Registered Investment Companies and Business Development Companies

USA - October 13 2020 On Oct. 7, 2020, the Securities and Exchange Commission (SEC) voted to adopt a new rule (Rule 12d1-4), and related amendments to existing rules and…

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…

George M. Silfen, Nicholas Tarnowski.

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…

George M. Silfen, Kevin P. Scanlan, Zachary Karlan.

SEC Proposes New Valuation Framework for Funds and BDCs

USA - June 1 2020 Section 2(a)(41)(B) of the Investment Company Act of 1940 (1940 Act) requires that portfolio securities without readily available market quotations be…

George M. Silfen.

SEC Proposes New Valuation Practice Framework for Funds and BDCs

USA - April 23 2020 On Monday, the Securities and Exchange Commission (SEC) voted to propose new Rule 2a-5 under the Investment Company Act of 1940 (1940 Act)…

Emilie Oberlis, George M. Silfen.