January 11, 2019

SEC Proposes Rule Changes for Fund of Funds Arrangements

On December 19, 2018, the SEC voted to propose a new rule and related amendments under the Investment Company Act of 1940 (1940 Act) designed to allow a fund to acquire the shares of another fund in excess of the limits of Section 12(d)(1)(A) and (B) the 1940 Act without obtaining an individual exemptive order from the SEC, subject to certain conditions.

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