A step forward: SEC streamlines fund of funds arrangements for BDCs and closed-end funds
By EsqSocial Corporation 16/10/20
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 regulatory framework that applies to funds that invest in other funds (i.e., fund of funds structures). Rule 12d1-4 and related amendments were initially proposed in December 2018 (the Proposed Rule) and the SEC adopted the Final Rule with certain modifications to the...
By: Eversheds Sutherland (US) LLP