Podcast: Credit Funds: Hot Topics in BDC Regulation
On October 26, 2022, the US Securities and Exchange Commission (SEC) voted to adopt rule and form amendments (the “final rules”) related to (1) shareholder reports of mutual funds and exchange-traded funds (ETFs) registered...more
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
On October 7, 2020, the US Securities and Exchange Commission (the SEC) announced that it voted to adopt new rule 12d1-4 (Rule 12d1-4) under the 1940 Act and related amendments (the Final Rule) to streamline and enhance the...more
The Securities and Exchange Commission on August 5, 2020 unanimously approved proposed rule and form amendments (Proposed Rule) that would comprehensively revise and update the disclosure framework for mutual funds and...more
On August 5, 2020, the Securities and Exchange Commission (“SEC”) proposed rule and form amendments that would modernize the disclosure framework for mutual funds and exchange-traded funds (“ETFs”) to create a new layered...more
On August 5, 2020, the Securities and Exchange Commission (SEC) announced proposed modifications (the Proposed Rule) to the disclosure framework for mutual funds and exchange-traded funds (ETFs) registered on Form N-1A...more
In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more
In response to the ongoing market turmoil created by the coronavirus/COVID-19 pandemic, the Federal Reserve has established a number of market stability and liquidity programs, many of which may be of interest to funds (both...more
Non-traded business development companies (BDCs) have long sought the ability to offer and sell multiple classes of shares with different pricing and expense structures. A multi-class structure facilitates the distribution of...more
The SEC voted to propose a rule designed to enhance the regulation of the use of derivatives by registered investment companies, including closed-end funds, as well as mutual funds, ETFs and business development companies....more
On November 25, 2019, the Securities and Exchange Commission voted to propose a new rule regarding the regulation of the use of derivatives by registered investment companies, including mutual funds, exchange-traded funds...more
On Nov. 25, the Securities and Exchange Commission (SEC) voted 5-0 to propose or repropose new rules revamping the framework for permissible use of derivatives and short sales by investment companies (other than money market...more
In the inaugural issue of Investment Management Update, we summarize regulatory, litigation and industry developments from February 2019 to May 2019 impacting the investment management sector....more
The Securities and Exchange Commission voted on December 19, 2018 to propose Rule 12d1-4 (proposed rule) and related amendments to the regulatory framework governing funds that invest in other funds (“fund of funds”...more
On December 19, 2018, the Securities and Exchange Commission (SEC) voted to propose Rule 12d1-4 (proposed rule) and related amendments to the regulatory framework governing funds that invest in other funds (“fund of funds”...more
Business development companies, which provide a growing and important alternative source of capital to smaller companies, face challenges raising money due to a quirk in the federal securities laws that limits how much mutual...more
Business development companies (BDCs), which provide a growing and important alternative source of capital to smaller companies, face challenges raising money due to a quirk in the federal securities laws that limits how much...more
The Securities and Exchange Commission (the “Commission”) today voted, by a three-to-one margin, to propose rules that would limit the amount of leverage that mutual funds may obtain through derivatives. The proposals also...more