October 21, 2019

SEC Staff Publishes Responses to Inquiries Regarding Business Development Companies and Section 61(a) of the Investment Company Act of 1940

On October 18, 2019, the SEC staff (the “Staff”) published responses to interpretive questions received related to Section 61(a) of the Investment Company Act of 1940 (the “1940 Act”), which applies the leverage limitations under Section 18 of the 1940 Act to business development companies (“BDCs”). Section 61(a) of the…

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