The SEC recently adopted Rule 12d1-4 (Rule 12d1-4 or Rule) under the Investment Company Act of 1940 (1940 Act) to streamline the regulatory framework applicable to registered funds that invest in other funds (funds of funds)....more
The Securities and Exchange Commission (“SEC”) on April 21, 2020, proposed a new rule to codify fair valuation requirements for funds registered under the Investment Company Act of 1940, as amended (“1940 Act”). ...more
I. INTRODUCTION -
On May 29, 2019, the U.S. Securities and Exchange Commission (the “SEC”) issued an order (the “New Order”) expanding the scope of exemptive relief available to multi-manager funds. ...more