Podcast: Credit Funds: Hot Topics in BDC Regulation
On February 7, 2023, the Securities and Exchange Commission’s Division of Examination (the “Division”) announced its 2023 examination priorities to “provide insights into its risk-based approach, including the areas it...more
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
Late last month the Securities and Exchange Commission (“SEC”) charged JP Morgan, UBS and Trade Station with violations of Regulation S-ID based on a range of inadequacies in their identity theft red flag policies and...more
On May 25, 2022, the U.S. Securities and Exchange Commission (“SEC”) provided notice of proposed rulemaking aimed at Investment Advisers (“Advisers”), Investment Companies and Business Development Companies (collectively...more
On May 25, 2022, the Securities and Exchange Commission (SEC) proposed significant rule and form amendments under the Investment Company Act of 1940, as amended (1940 Act) and the Investment Advisers Act of 1940, as amended...more
In another move related to strengthening its cybersecurity enforcement efforts, the SEC announced that it will nearly double the size of its cyber enforcement unit. On May 3, 2022, the SEC announced that it will allocate...more
On February 9, the SEC proposed new cybersecurity risk management regulations for investment advisers, registered investment companies (funds), and business development companies....more
In this issue, we cover regulatory developments impacting the investment management sector, including proposed legislation supported by the Investment Company Institute to address challenges for closed-end funds; the...more
On Dec. 3, the Securities and Exchange Commission (SEC) adopted a new rule (Rule 2a-5) under the Investment Company Act of 1940 (the 1940 Act) that establishes an updated regulatory framework for fund valuation oversight...more
The U.S. Securities and Exchange Commission on October 28, 2020 approved by a 3-2 vote a new rule and rule and form amendments related to the use of derivatives and certain other transactions by registered investment...more
On October 28, 2020, the US Securities and Exchange Commission (SEC) voted 3–2 to adopt Rule 18f-4 (the Rule) under the Investment Company Act of 1940 (the Investment Company Act), which will replace decades-old SEC and staff...more
The Securities and Exchange Commission (SEC) recently overhauled the rules applicable to “fund of funds” arrangements (where funds invest in other funds), rescinding many of the existing rules and exemptions and replacing...more
On Oct. 28, 2020, the Securities and Exchange Commission (SEC) voted to adopt a new rule (Rule 18f-4) and other related amendments, significantly altering the regulatory framework for derivatives use by registered investment...more
Yesterday, the Securities and Exchange Commission adopted final rules relating to the use of derivatives by registered investment companies and business development companies....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
On Oct. 7, 2020, the Securities and Exchange Commission (SEC) voted to adopt a new rule (Rule 12d1-4), and related amendments to existing rules and forms, to enact a comprehensive regulatory framework for “fund of funds”...more
On October 7, 2020, the Securities and Exchange Commission (“SEC” or “Commission”) adopted a new rule, Rule 12d1-4, and related amendments designed to permit a registered investment company or business development company or...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 June 18, 2020, the Securities and Exchange Commission’s (the SEC) Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert informing SEC registrants, including registered investment companies and...more
Originally posted March 31, 2020. Last updated July 2, 2020. In response to the novel coronavirus (COVID-19) pandemic, the Securities and Exchange Commission and its Staff have provided temporary regulatory relief and...more
On June 19, 2020, the Securities and Exchange Commission (SEC) extended temporary exemptive relief from in-person voting requirements granted to registered management investment companies and business development companies...more
On May 21, 2020, the U.S. Securities and Exchange Commission (the “SEC”) announced adoption of updates to the financial disclosure requirements of Regulation S-X and related rules applicable to the acquisition and disposition...more
In order to mitigate potential filing delays due to the ongoing impacts of the COVID-19 pandemic, the Securities and Exchange Commission’s (“SEC”) Division of Investment Management has extended the EDGAR filing window from...more
The Securities and Exchange Commission (the “SEC”) has made a concerted effort to provide guidance and targeted assistance and relief in response to the effects of the COVID-19 outbreak. As part of these efforts, the SEC has...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