SEC Adopts New Rules and Amendments to Update the Approach to the Regulation of Registered Funds’ and BDCs’ Use of Derivatives and Other Transactions
By EsqSocial Corporation 30/10/20
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 investment companies (i.e., open-end funds other than money market funds (with a limited exception); exchange-traded funds; and closed-end funds) and business development companies (collectively, funds). The Final Rule includes: (1) new Rule 18f‑4 under the Investment...
By: Dechert LLP