On March 20, 2019, as directed under the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act, the SEC issued a broad set of proposals intended to liberalize the registration, communications and offering processes for closed-end funds, including BDCs. As a result of these proposals, closed-end funds would be able to take advantage of offering reforms currently available only to operating companies, including the use of a streamlined shelf registration process.

Vedder Price P.C. is preparing a detailed summary of these proposals that will be published under separate cover.

The proposing release for these proposals is available at: https://www.sec.gov/rules/proposed/2019/33-10619.pdf