Regulatory Alerts2020-09-15 | 2020-14884Added
Amendments to Procedures With Respect to Applications Under the Investment Company Act of 1940
The Securities and Exchange Commission adopted amendments to establish an expedited review procedure for applications substantially identical to recent precedent and to set an internal timeframe for standard reviews. The rule also deems an application outside of expedited review withdrawn if the applicant fails to respond in writing to comments within 120 days. These changes aim to increase the efficiency and transparency of the exemptive relief process under the Investment Company Act of 1940.
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