📈Proposed Rule Change for Closed-End Companies on Annual Meetings
The SEC is evaluating a proposed rule change by Cboe BZX Exchange to exempt closed-end management investment companies from the requirement to hold annual shareholder meetings. This proposal aims to reduce operational costs and facilitate capital formation, sparking discussions about investor rights and governance practices in the sector.
Learn More📉SEC Notice on Investment Company Deregistration Applications
Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. The applicant has transferred its assets to First Trust Exchange-Traded Fund VIII, and on June 30, 2025 made a final distribution to its shareholders based on net asset value. Expenses of $451,616.94 incurred in connection with the reorganization were paid by the applicant and the applicant's investment adviser. Filing Date: The application was filed on August 4, 2025. Applicant's Address: 120 East Liberty Drive, Suite 400, Wheaton, Illinois 60187.
Learn More📈SEC Notice on Co-Investment Application by Aksia LLC
The SEC issued a notice regarding an application for an order enabling certain business development companies and management investment companies to co-invest in portfolio companies. The application aims to permit joint transactions that are otherwise prohibited by the Investment Company Act, impacting investment strategies and regulatory compliance for the involved entities.
Learn More📄SEC Rule 17a-10 Submission for OMB Review and Compliance
The SEC announces a request for OMB review regarding Rule 17a-10, which allows subadvisers to engage in transactions with affiliated funds. The document details the regulatory requirements and estimated compliance costs for investment companies, emphasizing necessary contractual modifications to comply with the rule.
Learn More📈SEC Notice on Third Point's Investment Company Exemption Application
The SEC provides a notice regarding an application from Third Point Private Capital LLC seeking exemption under the Investment Company Act to allow registered closed-end investment companies to issue various classes of shares. This application facilitates more flexible financial product offerings for business development companies.
Learn More📈Proposed Changes to Small Business Size Standards by SBA
The U.S. Small Business Administration (SBA or the Agency) proposes to increase its monetary based small business size definitions (commonly referred to as "size standards") for 263 industries (259 receipts based and four assets based). SBA proposes to retain receipts based size standards for 237 industries and 12 subindustries ("exceptions") and remove one exception. SBA's proposal relied on its recently revised "Size Standards Methodology" (Revised Methodology). SBA seeks comments on its proposed changes to size standards and data sources it evaluated to develop the proposed size standards. SBA also invites comments on its proposed policy of not lowering any size standards, except for excluding dominant firms from qualifying as small. In accordance with 5 U.S.C. 553(b)(4), a summary of this rule may be found at www.regulations.gov.
Learn More📄SEC Rule 17a-6
The SEC is requesting comments on the information collection related to Rule 17a-6, which allows investment companies to engage in certain transactions with affiliated entities under specified conditions. The rule requires boards of directors to assess and document the materiality of financial interests, ensuring compliance with regulatory obligations.
Learn More📊SEC Proposes Reinstatement of Rule 30a-1 Reporting Requirements
The SEC is seeking comments on the proposed reinstatement of Rule 30a-1, which requires investment companies to file an annual report on Form N-CEN. This action is part of the ongoing regulatory framework under the Investment Company Act of 1940 and addresses the need for information collection in compliance with the Paperwork Reduction Act.
Learn More💼SEC Notice on Lord Abbett Private Credit Fund Exemption Application
The SEC issues a notice regarding an application by Lord Abbett Private Credit Fund for an exemption under the Investment Company Act, allowing the issuance of multiple share classes with diverse fees. This move aims to enhance operational flexibility for investment companies regulated as business development companies. Interested parties can request a hearing or further information through specified channels.
Learn More📈NYSE Proposes Rule Change on Annual Shareholder Meeting Exemption
The New York Stock Exchange has proposed a rule change to exempt closed-end management investment companies from the requirement to hold annual shareholder meetings. This notice, published by the Securities and Exchange Commission, allows for an extended review period for the Commission to consider the implications of this proposal thoroughly.
Learn More