Regulatory Alerts2019-04-10 | 2019-05776Added
Securities Offering Reform for Closed-End Investment Companies
The Securities and Exchange Commission proposes rules to extend securities offering reforms currently available to operating companies to business development companies and closed-end investment companies. The proposal would allow these entities to utilize shelf registration, qualify as well-known seasoned issuers, and benefit from relaxed communications and final prospectus delivery requirements. Additionally, the rules introduce tailored disclosure frameworks, structured data reporting mandates, and a new fee payment method for interval funds to modernize the regulatory landscape.
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