The Securities and Exchange Commission (SEC) adopted amendments on Wednesday to portions of Regulation S-K and to the definitions of “accredited investor” and “qualified institutional buyer." ...more
Amendments Codify Prior Guidance that Proxy Voting Advice Is a “Solicitation,” Add Conditions to Exemptions Relied on by Proxy Advisory Firms - Continuing its focus on the proxy process and possible improvements to the...more
Overview - Currently, registered investment companies and business development companies, or BDCs, are required to comply with Rule 3-05 of Regulation S-X in connection with acquisitions of other investment companies and...more
Overview - When a public company acquires a business or real estate operations, it may or may not have to provide historical financial information about the target in its SEC filings depending on how significant the target is...more
The U.S. Securities and Exchange Commission (SEC) recently announced its proposal of new Rule 2a-5 (the “Proposed Rule”) under the Investment Company Act of 1940 (1940 Act) to establish a framework for fund valuation...more
In the current environment, business development companies (BDCs) are facing unique challenges. The Securities and Exchange Commission has announced temporary and conditional relief for BDCs to allow them to manage through...more
On April 8, 2020, the Securities and Exchange Commission (SEC) adopted final rules to implement certain provisions of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer...more
The Securities and Exchange Commission has been actively providing guidance and relief to issuers and other market participants amid the COVID-19 pandemic and has stated it may extend the relief granted if warranted by...more
Continuing its modernization and simplification of Regulation S-K as mandated by the JOBS and FAST Acts, the SEC, on January 30, 2020, proposed amendments to certain financial disclosure requirements of Regulation S-K,...more
Congress passed the Fixing America’s Surface Transportation Act (known as the “FAST Act”) at the end of 2015. Among other things, the FAST Act directed the SEC to modernize and simplify its disclosure requirements by...more