October 22, 2020
The SEC recently adopted a new rule, Rule 12d1-4 (FoF Rule), and related amendments designed to implement a regulatory framework for investments by registered investment companies and business development companies (BDCs) (collectively, funds) in underlying funds.
The release adopting the amendments (Adopting Release) also rescinds Rule 12d1-2 (which applies to affiliated fund-of-funds arrangements) and prior exemptive relief that is covered by the FoF Rule and amends Rule 12d1-1 under the 1940 Act relating to fund-of-funds investments in money market funds.
This Seward & Kissel client memorandum discusses the FoF Rule and other amendments included in the Adopting Release in more detail: Please Click Here
The Adopting Release is available: Please Click Here
November 27, 2024
November 19, 2024
November 12, 2024
November 11, 2024
November 5, 2024
November 4, 2024
November 1, 2024
October 31, 2024
October 24, 2024
October 9, 2024
October 8, 2024
The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.
One Battery Park Plaza
New York, NY 10004
Phone (212) 574-1200
Fax (212) 480-8421
901 K Street, NW
Washington, DC 20001
Phone (202) 737-8833
Fax (212) 480-8421
Contact Us
General/Media Inquiries – info@sewkis.com
Legal Recruiting – recruiting@sewkis.com
Staff Recruiting – hr@sewkis.com
© 2024