News & Analysis as of

Final Rules Investment Company Act of 1940 Investment Funds

Mayer Brown Free Writings + Perspectives

The Rules of the Name: SEC Staff Updates Guidance on Fund Naming Rules

The Securities and Exchange Commission (SEC) staff issued updated FAQs regarding Rule 35d-1 under the Investment Company Act of 1940 (the “Names Rule”) on January 8, 2025.  These updates reflect amendments that were adopted...more

Goodwin

SEC Adopts Rule Enhancements to Prevent Misleading or Deceptive Investment Fund Names

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On September 20, 2023, the US Securities and Exchange Commission (the “SEC”) voted, by a 4-1 vote, to adopt certain amendments (the “final rule” or the “amendments”) to Rule 35d-1 (the “Names Rule”) under the Investment...more

Goodwin

SEC Adopts Reforms for Money Market Funds

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On July 12, 2023, the US Securities and Exchange Commission ("SEC") voted, by a 3-2 vote, to adopt money market fund reforms that will significantly impact the regulatory framework governing money market funds ("money funds"...more

Goodwin

SEC Proposes New Round of Money Market Fund Reforms

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In This Issue. The U.S. Securities and Exchange Commission (SEC) voted to propose money market fund reforms; the SEC also proposed amendments to Rule 10b5-1 trading plans and to modernize and improve share repurchase...more

Eversheds Sutherland (US) LLP

SEC modernizes valuation practices

On December 3, 2020, the Securities and Exchange Commission (the SEC) adopted new rule 2a-5 (Rule 2a-5) under the Investment Company Act of 1940, as amended (the 1940 Act), which establishes a framework for fund valuation...more

Eversheds Sutherland (US) LLP

What are DRMs and do you need one? SEC adopts framework for derivatives use by registered funds and BDCs

On October 28, 2020, the U.S. Securities and Exchange Commission (the SEC) voted 3-2 to adopt Rule 18f-4 (the Final Rule) under the Investment Company Act of 1940 (the 1940 Act), which establishes a comprehensive framework...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Adopts New Rule for Fund of Fund Arrangements

On October 7, 2020, the Securities and Exchange Commission (SEC) adopted Rule 12d1-4 (Final Rule or Rule 12d1-4) under the Investment Company Act of 1940 (1940 Act) in an effort to streamline and enhance the regulatory...more

Eversheds Sutherland (US) LLP

A step forward: SEC streamlines fund of funds arrangements for BDCs and closed-end funds

On October 7, 2020, the US Securities and Exchange Commission (the SEC) announced that it voted to adopt new rule 12d1-4 (Rule 12d1-4) under the 1940 Act and related amendments (the Final Rule) to streamline and enhance the...more

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