On October 13, 2021, Templeton Global Income Fund (GIM) announced that its Board of Trustees (Board) approved an issuer tender offer for 70% of its issued and outstanding common shares at a price per share equal to 99% of...more
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
12/7/2020
/ Business Development Companies ,
Capital Markets ,
Closed-End Funds ,
Division of Investment Management ,
Investment ,
Investment Company Act of 1940 ,
Investment Funds ,
Private Funds ,
Private Offerings ,
Retail Investors ,
Rule 12d1-4 ,
Securities and Exchange Commission (SEC)
On November 19, 2020, U.S. Representative Anthony Gonzalez (R-OH) introduced the Increasing Investor Opportunities Act (IIOA). The IIOA, among other things, would require private funds to comply with the 10% limitation on...more
12/3/2020
/ Closed-End Funds ,
Fund Managers ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Funds ,
Private Equity ,
Private Equity Funds ,
Rule 12d1-4 ,
Securities and Exchange Commission (SEC) ,
Undue Influence Claims
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
11/6/2020
/ Closed-End Funds ,
Exemptive Orders ,
Final Rules ,
Form N-CEN ,
Fund of Funds ,
Investment Adviser ,
Investment Company Act of 1940 ,
Investment Funds ,
Investment Management ,
New Rules ,
Rule 12d1-4 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Voting Requirements
On July 10, 2020, the Securities and Exchange Commission (SEC) voted 3-1 to approve proposed rules that, among other things, would raise the Form 13F reporting threshold for institutional investment managers (managers) from...more
The U.S. Securities and Exchange Commission (SEC) has issued an order intended to facilitate the ability of business development companies (BDCs) to borrow under their existing credit agreements and issue new debt and...more
As recently noted, Saba Capital Management, L.P. (Saba) has begun to escalate its attacks on the closed-end fund asset class, at the expense of retail fund shareholders.1 Saba continues its offensive against closed-end funds,...more
8/20/2019
/ Asset Class ,
Closed-End Funds ,
ETFs ,
Institutional Investors ,
Investment Company Act of 1940 ,
Investment Funds ,
Proxy Contests ,
Proxy Statements ,
Publicly-Traded Companies ,
Regulatory Violations ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Shareholders
On May 20, 2015, the Securities and Exchange Commission (the “SEC”) approved new proposed rules, forms and amendments that would expand the information that registered investment companies1 are required to report. The SEC’s...more
7/31/2015
/ Compliance ,
Derivatives ,
Financial Statements ,
Form N-CEN ,
Form N-PORT ,
Form N-SAR ,
Investment Companies ,
Investment Funds ,
Investment Portfolios ,
Regulation S-X ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Shareholder Distributions ,
Shareholders