News & Analysis as of

Final Rules Investment Company Act of 1940

Lowenstein Sandler LLP

SEC Issues Final Rule to Modify Section 3(c)(1) Investment Company Act Exemption for Certain Private Funds

On August 21, 2024, the U.S. Securities and Exchange Commission (SEC) adopted a rule (Final Rule) that will increase the threshold for what is considered a “qualifying venture capital fund” from $10,000,000 to $12,000,000....more

Foley Hoag LLP

Fifth Circuit Vacates New Private Funds Rules

Foley Hoag LLP on

In a 3-0 decision issued today, June 5, 2024, the Fifth Circuit Court of Appeals (the “Court”) vacated the new private funds rule adopted by the Securities and Exchange Commission (the “SEC”) on August 23, 2023 (the “Rule”)....more

Pillsbury Winthrop Shaw Pittman LLP

SEC Adopts Long-Anticipated Rules for SPACs: Considerations for Market Participants and SEC Enforcement Objectives in the New...

The rules, originally proposed in March 2022, realign disclosures, marketing practices and other obligations in de-SPAC transactions more closely with traditional IPOs and add increased risk and uncertainty for market...more

DarrowEverett LLP

SEC’s New Rules Give SPACs, Target Companies Much to Consider

DarrowEverett LLP on

On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new final rules relating to special purpose acquisition companies (“SPACs”). The new rules affect both initial public offerings (“IPOs”) for...more

Holland & Knight LLP

A Summary and Early Analysis of SEC Final SPAC Rules

Holland & Knight LLP on

By vote of 3 to 2, the U.S. Securities and Exchange Commission (SEC or Commission) on Jan. 24, 2024, adopted new rules and amendments (SPAC Rules) pertaining to special purpose acquisition companies (SPACs), with the stated...more

Dorsey & Whitney LLP

The SEC Amends Policy on Economic Projections, and Issues Final Rules and Additional Guidance for SPACs and Shell Companies

Dorsey & Whitney LLP on

The SEC on January 24, 2024 adopted final rules amending the disclosure and registration requirements applicable to special purpose acquisition companies (SPACs) and shell companies that register or file reports with the SEC....more

Orrick, Herrington & Sutcliffe LLP

SEC Final SPAC Rules: Key Takeaways

The Securities and Exchange Commission (the “SEC”) has finalized its long-awaited rules regarding special purpose acquisition companies (“SPAC”). So, what are the key aspects of these rules that SPAC market participants...more

ArentFox Schiff

Open Meeting Report: SEC Approves SPAC Final Rules in 3-2 Vote

ArentFox Schiff on

US Securities and Exchange Commission (SEC) Chair Gary Gensler led an open meeting on January 24, 2024, hosting discussions that evaluated the potential benefits and pitfalls associated with the adoption of proposed rules...more

Goodwin

SEC Adopts New Rules Applicable to SPACs, Shell Companies and Projections

Goodwin on

We previously noted in our March 31, 2022 alert that the U.S. Securities and Exchange Commission (SEC or Commission) held an open meeting on March 30, 2022 to consider proposed rules and amendments regarding special purpose...more

Vinson & Elkins LLP

SEC Approves Final SPAC Rules

Vinson & Elkins LLP on

On January 24, 2024, the U.S. Securities and Exchange Commission (“SEC”) approved final rules relating to special purpose acquisition companies (“SPACs”). The final rules follow the SEC’s issuance of proposed rules on March...more

Vinson & Elkins LLP

Repurchase Redo: Fifth Circuit Court of Appeals Orders SEC to Correct Share Repurchase Rule Defects

Vinson & Elkins LLP on

Evaluating a broad spectrum of challenges raised by the U.S. Chamber of Commerce and others, a unanimous panel of the U.S. Court of Appeals for the Fifth Circuit recently held that the SEC failed to provide a sufficient...more

Foley & Lardner LLP

SEC Adopts Changes to Schedule 13D and Schedule 13G

Foley & Lardner LLP on

On October 10, 2023, the U.S. Securities and Exchange Commission (the “SEC”) adopted final rules amending (the “Amendments”) Schedules 13D and 13G of the Securities Exchange Act of 1934 (the “Exchange Act”) to modernize its...more

Akin Gump Strauss Hauer & Feld LLP

The U.S. Securities and Exchange Commission's Scrutiny of Greenwashing Risks Continues with Modifications to the ’40 Act Names...

On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) issued a final rule amending the so-called “Names Rule” (found here) that is “designed to modernize and enhance” protections under Rule 35d-1 of the...more

Goodwin

SEC Adopts Rule Enhancements to Prevent Misleading or Deceptive Investment Fund Names

Goodwin on

On September 20, 2023, the US Securities and Exchange Commission (the “SEC”) voted, by a 4-1 vote, to adopt certain amendments (the “final rule” or the “amendments”) to Rule 35d-1 (the “Names Rule”) under the Investment...more

Dechert LLP

Dechert Cyber Bits - Issues 38

Dechert LLP on

SEC Finalizes Cybersecurity Disclosure Rules for Public Companies - On July 26, 2023, the Securities and Exchange Commission (“SEC”) voted to adopt new rules requiring public companies to make certain disclosures...more

Goodwin

SEC Adopts Reforms for Money Market Funds

Goodwin on

On July 12, 2023, the US Securities and Exchange Commission ("SEC") voted, by a 3-2 vote, to adopt money market fund reforms that will significantly impact the regulatory framework governing money market funds ("money funds"...more

Dechert LLP

FinCEN Corporate Transparency Final Rule: Beneficial Ownership Information Reporting Requirements and the Potential Impact on...

Dechert LLP on

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) on September 29, 2022 issued a final rule (Final Rule) defining and implementing the beneficial ownership reporting requirements of Section 6403...more

Dechert LLP

SEC Adopts Final Rules to Enhance the Reporting of Proxy Votes by Registered Management Investment Companies and Require the...

Dechert LLP on

On November 2, 2022, the Securities and Exchange Commission, by a three-to-two vote, adopted amendments to Form N-PX under the Investment Company Act of 1940, to improve the utility to investors of proxy voting information...more

Goodwin

SEC Proposes New Round of Money Market Fund Reforms

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) voted to propose money market fund reforms; the SEC also proposed amendments to Rule 10b5-1 trading plans and to modernize and improve share repurchase...more

Goodwin

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

Goodwin on

In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Goodwin

Tenth Circuit Upholds District Court’s Ruling Finding No Breach of Fiduciary Duties in Section 36(b) Case

Goodwin on

In This Issue. The federal bank regulators published frequently asked questions concerning the London Interbank Offered Rate transition; the Consumer Financial Protection Bureau (CFPB) confirmed an effective date for two...more

Eversheds Sutherland (US) LLP

SEC modernizes valuation practices

On December 3, 2020, the Securities and Exchange Commission (the SEC) adopted new rule 2a-5 (Rule 2a-5) under the Investment Company Act of 1940, as amended (the 1940 Act), which establishes a framework for fund valuation...more

Faegre Drinker Biddle & Reath LLP

SEC Adopts Final Fund of Funds Rule

Rule 12d1-4 - In October 2020, the Securities and Exchange Commission (SEC) adopted Rule 12d1-4 (final rule) and other amendments under the Investment Company Act of 1940, as amended (1940 Act), which allows funds...more

Eversheds Sutherland (US) LLP

What are DRMs and do you need one? SEC adopts framework for derivatives use by registered funds and BDCs

On October 28, 2020, the U.S. Securities and Exchange Commission (the SEC) voted 3-2 to adopt Rule 18f-4 (the Final Rule) under the Investment Company Act of 1940 (the 1940 Act), which establishes a comprehensive framework...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Adopts New Rule for Fund of Fund Arrangements

On October 7, 2020, the Securities and Exchange Commission (SEC) adopted Rule 12d1-4 (Final Rule or Rule 12d1-4) under the Investment Company Act of 1940 (1940 Act) in an effort to streamline and enhance the regulatory...more

51 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide