28 Feb 2025
📄Regulatory Update
Submission for OMB Review; Comment Request; Extension: Rule 17a-8
Summary
The SEC has submitted a request for extension on Rule 17a-8, which regulates mergers of affiliated investment companies. The rule provides exemptions for certain transactions while imposing requirements for asset valuation and shareholder approvals, emphasizing governance and compliance responsibilities for funds engaging in mergers.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The regulatory text outlines compliance requirements under Rule 17a-8 regarding mergers of affiliated registered investment companies. This includes obligations for asset valuation by independent evaluators and obtaining shareholder approvals, which directly affects financial reporting and governance practices for involved funds.