News & Analysis as of

Fair Value Standard Investment Funds

WilmerHale

The Interplay: Key Decisions at the Intersection of Antitrust & Life Sciences - May 2024

WilmerHale on

Second Circuit Affirms “Pay for Delay” Dismissal:  On May 13, 2024, the Second Circuit affirmed dismissal of antitrust claims brought by wholesalers, retailers, and employee benefit funds that alleged they overpaid for the...more

Cadwalader, Wickersham & Taft LLP

Notable in NAV: PitchBook Examines Accounting Fair Value

Fair value accounting, commonly used to value fund assets, tends to understate the true volatility in asset values, according to a research note published by PitchBook. While the findings are not new, NAV lenders may find the...more

Goodwin

SEC Updates Regulatory Framework For Good Faith Determinations Of Fair Value

Goodwin on

On December 3, 2020, the U.S. Securities and Exchange Commission (the “SEC”) voted to adopt new Rule 2a-5 (the “Fair Value Rule”) under the Investment Company Act of 1940 (the “1940 Act”), which addresses the valuation...more

Dechert LLP

SEC Rulemaking: Good Faith Determinations of Fair Value Under the Investment Company Act

Dechert LLP on

The U.S. Securities and Exchange Commission on December 3, 2020 adopted a long-anticipated rule for the fair valuation of fund investments. Rule 2a-5 under the Investment Company Act of 1940 (final rule or rule): defines...more

Dechert LLP

Newsflash: SEC Adopts Fund Fair Valuation Rule

Dechert LLP on

On December 3, 2020, the U.S. Securities and Exchange Commission adopted a long-anticipated rule for the fair valuation of fund investments. Rule 2a-5 under the Investment Company Act of 1940 (final rule) establishes...more

Kramer Levin Naftalis & Frankel LLP

SEC Proposes New Valuation Framework for Funds and BDCs

Section 2(a)(41)(B) of the Investment Company Act of 1940 (1940 Act) requires that portfolio securities without readily available market quotations be valued at “fair value as determined in good faith by the board of...more

Kramer Levin Naftalis & Frankel LLP

SEC Proposes New Valuation Practice Framework for Funds and BDCs

Last Monday, the Securities and Exchange Commission (SEC) voted to propose new Rule 2a-5 under the Investment Company Act of 1940 (1940 Act) establishing a framework for funds’ fair value determinations (Proposed Rule)....more

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