Regulatory Alerts2019-10-30 | 2019-23082Added
Amendments to Procedures With Respect to Applications Under the Investment Company Act of 1940
The Securities and Exchange Commission proposes amending rule 0-5 under the Investment Company Act of 1940 to establish an expedited review procedure for applications substantially identical to recent precedent. The Commission also proposes a new rule creating an internal timeframe for the review of applications that do not qualify for expedited treatment. Additionally, the proposal would deem an application withdrawn if the applicant fails to respond in writing to comments within 120 days under the standard review process.
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