News & Analysis as of

Investment Funds Relief Measures

Eversheds Sutherland (US) LLP

Sigh of relief: SEC extends position on temporary co-investment relief for BDCs

On March 2, 2021, the Securities and Exchange Commission (the SEC) updated its Frequently Asked Questions relating to the targeted co-investment relief that the SEC previously had granted in an effort to assist business...more

Winstead PC

Additional Short-Term Relief Granted for Qualified Opportunity Funds and Investments

Winstead PC on

As a result of the continuing COVID-19 impact on qualified opportunity funds (“QOFs”) and prospective investors therein, the IRS recently issued Notice 2021-10 (the “Notice”) in order to grant additional relief to QOF and...more

Sullivan & Worcester

Internal Revenue Service Provides Additional COVID-19 Related Relief for Opportunity Zones Investors

Sullivan & Worcester on

On January 19, 2021, the Internal Revenue Service (“IRS”) issued Notice 2021-10 (the “Notice”), which provides relief for Opportunity Fund investors from certain deadlines and testing requirements. The relief provided by the...more

Allen Matkins

Extensions of COVID-19 Relief for Opportunity Zone Funds

Allen Matkins on

In IRS Notice 2021-10 (the New Notice), the IRS granted relief to Opportunity Zone Funds because of the COVID-19 pandemic. The New Notice generally extends the relief that had previously been granted pursuant to IRS Notice...more

Goodwin

COVID-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 29 September 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS - On 20 March 2020, the...more

Goodwin

U.S. Federal Agencies Finalize Revisions to Volcker Rule Covered Funds Restrictions

Goodwin on

The five U.S. federal regulatory agencies responsible for implementing the Volcker rule — the Board of Governors of the Federal Reserve System (Federal Reserve), the Office of the Comptroller of the Currency (OCC), the...more

Morgan Lewis

IRS Provides COVID-19 Pandemic Relief for Qualified Opportunity Zone Investments

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With the issuance of Notice 2020-39 (the Notice), the Internal Revenue Service (IRS) has provided relief for Qualified Opportunity Zone Funds (QOFs) and for investors in QOFs. While the relief provided in the Notice does not...more

Bowditch & Dewey

IRS Provides More Flexibility for Qualified Opportunity Funds in the Wake of COVID Crisis

Bowditch & Dewey on

In the wake of the COVID Crisis, on June 4, 2020, the IRS issued Notice 2020-39. The Notice provides much-needed relief for taxpayers investing or considering investing in Qualified Opportunity Funds (“QOFs”). Under...more

Jackson Walker

COVID-19 Relief for Qualified Opportunity Funds

Jackson Walker on

In Notice 2020-39, the IRS provided relief from several deadlines relevant for investors in qualified opportunity funds (QOFs). This relief generally permits investors and funds to come into compliance by the end of 2020. ...more

Obermayer Rebmann Maxwell & Hippel LLP

Additional Relief to Qualified Opportunity Zone Investors Impacted by COVID-19

In early April, the IRS provided relief to taxpayers affected by the COVID-19 pandemic by postponing due dates with respect to certain taxpayer and government acts.  See Notice 2020-23. Earlier this month, the IRS granted...more

Goodwin

COVID-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 22 June 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS...more

Greenberg Glusker LLP

IRS Grants Additional Relief for Qualified Opportunity Funds

Greenberg Glusker LLP on

On June 4, 2020, the IRS issued Notice 2020-39, which provides important relief to qualified opportunity zone investors (“QOZ Investors”), qualified opportunity funds (“QOFs”) and qualified opportunity zone businesses...more

Sullivan & Worcester

IRS Provides Relief to Opportunity Funds and OZ Investors

Sullivan & Worcester on

As part of its continuing response to the COVID-19 pandemic, on June 4, 2020, the Internal Revenue Service issued Notice 2020–39 (the “Notice”). The Notice provides welcome relief to Qualified Opportunity Funds (“QOFs”) and...more

Lowndes

IRS Provides Much-Needed Opportunity Zone Relief

Lowndes on

On June 4, the IRS provided some much-needed relief to opportunity zone investors and qualified opportunity funds (QOFs) in response to the ongoing COVID-19 pandemic. Specifically, the IRS published Notice 2020-39, which...more

Dechert LLP

COVID-19 Economic Crisis: Protecting International Banking and Finance Investors and their Investments

Dechert LLP on

The COVID-19 pandemic has triggered an “impending global recession” as governments have been forced to suspend much economic activity in an effort to slow the spread of the virus. Economic and political uncertainty, coupled...more

Goodwin

Covid-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 20 May 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS - The increased flexibility for the...more

Akin Gump Strauss Hauer & Feld LLP

SEC Extends COVID-19 Regulatory Relief for Public Companies, Funds and Investment Advisers and Issues Additional Guidance

Extension of COVID-19 Regulatory Relief - On March 25, 2020, the Securities and Exchange Commission (SEC) extended regulatory relief... for certain Exchange Act reports (including Form 10-Ks and Form 10-Qs) with an...more

Dechert LLP

COVID-19 Coronavirus Business Impact: Preserving Fund Liquidity – Practical Guidance for Managing Distributions

Dechert LLP on

Key Takeaways - Registered closed-end funds and business development companies should reassess their distribution policies if they are in need of liquidity. - As part of that reassessment, funds should consider paying...more

Morgan Lewis

SEC Extends and Amends Conditions for Relief for Funds and Advisers Impacted by COVID-19

Morgan Lewis on

Two orders from the US Securities and Exchange Commission amend previous regulatory relief for certain investment advisers and investment funds affected by the coronavirus (COVID-19), provide such investment advisers and...more

Pillsbury Winthrop Shaw Pittman LLP

Mitigation of Investment Adviser Business Interruption and Regulatory Non-Compliance Risks Related to COVID-19

The SEC and CFTC grant conditional filing extensions as firms address business continuity and risks related to the pandemic. Conditional filing extensions are available to investment advisers and certain registered funds if...more

McDermott Will & Emery

COVID-19 Considerations for Private Investment Funds

The recent coronavirus pandemic presents significant challenges for private investment fund sponsors. Navigating these challenges requires proactively addressing risks and thoughtfully considering the following issues...more

Dechert LLP

SEC Takes Further Action to Assist Funds in Light of COVID-19 Coronavirus Pandemic: Provides Flexibility for Funds and Insurance...

Dechert LLP on

On March 23, 2020, the Securities and Exchange Commission issued an order providing relief to registered open-end funds and insurance company separate accounts (separate accounts) registered as unit investment trusts. The...more

Polsinelli

Opportunity Zone Deadlines Extended By Covid-19 Disaster Declarations

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INTRODUCTION - The COVID-19 pandemic has led Governors of many states to request that their states be declared federal disaster areas. As of this writing, President Trump has declared numerous states to be federal disaster...more

Morgan Lewis

COVID-19 Market Impact SEC Provides Short-Term Funding Affiliated Purchase Flexibility to Funds

Morgan Lewis on

The US Securities and Exchange Commission is providing increased flexibility to certain open-end funds and insurance company separate accounts, plus no-action relief to money market funds and their affiliates amid the...more

McGuireWoods LLP

COVID-19 Paycheck Protection Loans for Businesses

McGuireWoods LLP on

McGuireWoods is monitoring the evolving availability of government-sponsored emergency loan programs for U.S. businesses during the COVID-19 pandemic, including federal programs available from the U.S. Small Business...more

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