On November 19, the SEC adopted rule 6a-5 under the Investment Company Act of 1940 to establish a standard of credit-worthiness in place of a reference to credit ratings in section 6(a)(5) of the ’40 Act for debt securities purchased by entities relying on an exemption for business and industrial development companies. The rule implements section 939(c) of the Dodd-Frank Act. The rule will be effective 30 days after publication in the Federal Register. SEC Rule.