SEC Adopts Rule on Fair Valuation Practices Under Investment Company Act
By EsqSocial Corporation 31/12/20
On December 3, the SEC adopted Rule 2a-5 establishing an updated regulatory framework for fund valuation practices. The rule requires fund boards of directors (or their designee) to perform certain functions in order to determine in good faith the fair value of a fund’s investments, as required under the Investment Company Act of 1940, including periodically assessing and managing material risks associated with fair value determinations, selecting, applying and testing fair value methodologies,...
By: Orrick - Finance 20/20