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Registered Funds Derivatives

Morgan Lewis

1940 Act Regulatory Checklists

Morgan Lewis on

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met....more

Goodwin

SEC Adopts New Regulatory Framework For Registered Fund Derivative Investments

Goodwin on

On October 28, the Securities and Exchange Commission (the “SEC”) adopted Rule 18f-4 (the “Rule”) under the Investment Company Act of 1940 (the “1940 Act”) and amended related rules designed to provide a modernized,...more

Morrison & Foerster LLP

SEC Adopts New Regulatory Framework For Use Of Derivatives By Registered Funds

Morrison & Foerster LLP on

On October 28, 2020, the SEC adopted a new regulatory framework for derivatives use by registered investment companies. New Rule 18f-4 applies to mutual funds other than money market funds, exchange-traded funds (ETFs),...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

Goodwin on

In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

Dechert LLP

SEC Adopts New Rules and Amendments to Update the Approach to the Regulation of Registered Funds’ and BDCs’ Use of Derivatives and...

Dechert LLP on

The U.S. Securities and Exchange Commission on October 28, 2020 approved by a 3-2 vote a new rule and rule amendments (collectively, Final Rule) related to the use of derivatives and certain other transactions by registered...more

Dorsey & Whitney LLP

SEC Re-Proposes Exemptive Rule Relating to the Use of Derivatives by Registered Funds

Dorsey & Whitney LLP on

On Nov. 25, 2019 the Securities and Exchange Commission (SEC) voted to propose a new rule, under the Investment Company Act of 1940 (the “1940 Act”), designed to modernize the way the SEC regulates the use of derivatives by...more

Dechert LLP

U.S. SEC Approves Proposal to Modernize Investment Company Reporting Regime

Dechert LLP on

The U.S. Securities and Exchange Commission (SEC or Commission) unanimously approved a proposal (Proposal) to modernize the reporting of information provided by registered investment companies (funds). Guided by the recent...more

Goodwin

SEC Staff Provides Further Guidance to Registered Funds on Derivatives

Goodwin on

In IM Guidance Update No. 2013-05, the staff of the SEC’s Division of Investment Management provided further guidance on disclosure and compliance matters relating to the use of derivatives by registered funds. The Guidance...more

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