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What a Relief! Co-Investments Get Easier for Interval Funds, Tender Offer Funds, and Business Development Companies

The US Securities and Exchange Commission (SEC) has approved a streamlined framework for co-investments involving certain closed-end funds and business development companies (together, Regulated Funds)....more

Asset Management Regulatory Year in Review 2024

2024 was a year of meaningful regulatory change for asset managers globally. The regulatory activity was wide ranging and without a particular unifying theme. In fact, the wide, and in cases diverging focuses of key global...more

SEC Increases the "Qualified Client" Net Worth and Assets Under Management Thresholds

INTRODUCTION - On 17 June 2021, the U.S. Securities and Exchange Commission (the SEC) issued an order to: (i) increase the net worth threshold for “qualified clients” under Rule 205-3 of the Investment Advisers Act of 1940,...more

And One More Thing: The NFA Adopts Rules Establishing CPO Notice Filing Requirements when a CPO is Unable to Fulfill its...

Introduction - On 13 April 2021, the National Futures Association (NFA) released an Interpretive Notice entitled Compliance Rule 2-50: CPO Notice Filing Requirements (Interpretive Notice)....more

SEC Adopts New Rule 12d1-4 Overhauling Fund of Funds Arrangements--Are You Ready?

I. EXECUTIVE SUMMARY - On 7 October 2020, the Securities and Exchange Commission (the SEC) adopted new rule 12d1-4 (Rule 12d1-4) and related amendments under the Investment Company Act of 1940 (the 1940 Act) that it believes...more

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