On May 4, 2020, the U.S. Internal Revenue Service issued Revenue Procedure 2020-19, temporarily allowing publicly offered regulated investment companies (RICs), including certain business development companies and certain...more
5/13/2020
/ Business Development Companies ,
Cash Transactions ,
Closed-End Funds ,
IRS ,
New Guidance ,
Publicly-Traded Companies ,
REIT ,
RICs ,
Securities and Exchange Commission (SEC) ,
Shareholder Distributions ,
Stocks
The U.S. Securities and Exchange Commission on April 8, 2020 adopted a package of reforms to the securities registration, offering and communications requirements under the Securities Act of 1933 applicable to business...more
4/25/2020
/ Amended Rules ,
Business Development Companies ,
Closed-End Funds ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Eligibility ,
Exchange-Traded Products ,
Offering Communications ,
Offerings ,
Prospectus ,
Registration Requirement ,
Regulation FD ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Short-Form Registration ,
WKSIs
The U.S. Securities and Exchange Commission on November 25, 2019 unanimously approved for publication a rule proposal related to the use of derivatives and certain other transactions by companies that have elected to be...more
1/11/2020
/ BDC ,
Business Development Companies ,
CFTC ,
Commodities ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Derivatives ,
Investment Adviser ,
Investment Company Act of 1940 ,
NFA ,
Notification Requirements ,
Proposed Amendments ,
Public Comment ,
Recordkeeping Requirements ,
Registered Investment Companies (RICs) ,
Reporting Requirements ,
Repurchase Agreements ,
Rule 18f-4 ,
Securities and Exchange Commission (SEC) ,
Swaps
The U.S. Securities and Exchange Commission on March 20, 2019 proposed a package of reforms to the securities registration, offering and communications requirements under the Securities Act of 1933, applicable to business...more
5/15/2019
/ Business Development Companies ,
Closed-End Funds ,
Comment Period ,
Disclosure Requirements ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
EDGAR ,
Investment Company Act of 1940 ,
Investor Communication Rules ,
Offering Communications ,
Offerings ,
Proposed Amendments ,
Prospectus ,
Public Comment ,
Publicly-Traded Companies ,
Registration Fees ,
Registration Requirement ,
Registration Statement ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Small Business Credit Availability Act (SBCAA) ,
WKSIs ,
XBRL Filing Requirements
In December 2018, the SEC announced two enforcement actions involving business development companies (BDCs) – one against Fifth Street Management, LLC, the former external registered investment adviser to two BDCs, and the...more
12/22/2018
/ Allocation of Funds ,
Asset Management ,
Business Development Companies ,
Business Valuations ,
Cease and Desist Orders ,
Censures ,
Civil Monetary Penalty ,
Compensation Schemes ,
Compliance ,
Corporate Misconduct ,
Deductible Expenses ,
Disgorgement ,
Enforcement Actions ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Non-Public Information ,
Policies and Procedures ,
Portfolio Companies ,
Prejudgment Interest ,
Registered Investment Advisors ,
Section 19(a) ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Shareholder Distributions
Highlights
- On March 23, 2018, President Trump signed the Small Business Credit Availability Act (the Act), which aims to increase the availability of funding to small to mid-sized private U.S. companies and startups by...more
3/27/2018
/ Amended Rules ,
Business Development Companies ,
Capital Formation ,
Capital Raising ,
Deregulation ,
Investment Company Act of 1940 ,
Proxy Access Rule ,
Registration Requirement ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Small Business Credit Availability Act ,
Tax Credits ,
Trump Administration