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Analyzing Whether Section 18(I) of the Investment Company Act Really Permits Closed-End Funds to Opt In to the Maryland Control...

Section 18(i) of the Investment Company Act of 1940 (the Act) requires, except as set forth in therein and "as otherwise required by law," that each share of stock issued by a registered closed-end fund "shall be a voting...more

SEC Staff Withdraws No-Action Letter that Prohibited Closed-End Funds from Opting In to the Maryland Control Share Acquisition Act

On May 27, 2020, the Staff of the Securities and Exchange Commission's ("SEC") Division of Investment Management (the "Division") published a Statement entitled "Control Share Acquisition Statutes" (the "Statement") in which...more

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