News & Analysis as of

Capital Markets Business Development Companies

Mayer Brown Free Writings + Perspectives

Business Development Companies: Facts & Stats

In recent years, private non-bank lending to private equity-owned, small- and middle-market companies has increased significantly. Within this growing sector, private and non-traded BDCs have outperformed other non-bank...more

Alston & Bird

Investment Management, Trading & Markets Updates – December 2021

Alston & Bird on

NFA Adds Virtual Currency and Micro Contract Questions to Annual Questionnaire On December 6, 2021, the National Futures Association (NFA) released Notice I-21-42 to notify NFA members that new questions had been added to the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Proposed Legislation Seeks To Prevent Regulatory Limitations on Closed-End Fund Investments in Private Funds

The Increasing Investor Opportunities Act (IIOA), introduced on November 19, 2020, by U.S. Representative Anthony Gonzalez (R-OH), aims to expand closed-end fund participation in private funds. The IIOA, among other things,...more

Eversheds Sutherland (US) LLP

Dividends payable partly in stock may provide capital flexibility to BDCs

The COVID-19 pandemic has caused a significant disruption in the capital markets. As a result, business development companies (BDCs) may be seeking to conserve cash in order to preserve flexibility and respond to evolving...more

Mayer Brown Free Writings + Perspectives

SEC Small Entity Compliance Guide on Testing the Waters

The SEC’s amendment to the test-the-waters provisions, extending the ability to test-the-waters to issuers that are not emerging growth companies (“EGCs”), is now effective. The guide summarizes the provisions of new Rule...more

Proskauer Rose LLP

SEC Adopts Final Rule on “Test-the-Waters” Communications

Proskauer Rose LLP on

On September 25, 2019, the Securities and Exchange Commission (the "SEC") adopted Rule 163B under the Securities Act of 1933, as amended (the "Securities Act"), which permits all issuers, including business development...more

Mayer Brown Free Writings + Perspectives

Business Development Company Guide for Capital Markets

This guide covers all related information that a securities practitioner needs when working with a Business Development Company (BDC). It provides an overview of the industry and covers applicable securities laws and...more

Morrison & Foerster LLP

House Holds Hearings on Bill to Ease BDC Restrictions

The Subcommittee on Capital Markets and Government Sponsored Enterprises of the House Financial Services Committee heard testimony on June 16, 2015 in support of proposed bills that would, among other things, increase the...more

Morrison & Foerster LLP

Best Practices for Independent Directors of Business Development Companies

As business development companies (BDCs) grow in popularity, the role of their independent directors grows in importance. Here we look at the increasingly important role that BDC independent directors play and how their...more

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