News & Analysis as of

Investment Company Act of 1940 › Board of Directors › Private Right of Action

Goodwin

Supreme Court to Resolve Circuit Split Over Existence of Implied Private Right of Action Under Section 47(b) of the Investment...

Goodwin on

On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., agreeing to resolve a circuit split over whether private parties have an implied right of action to...more

Proskauer Rose LLP

SEC Issues No-Action Relief Increasing Flexibility for Certain In-Person Director Voting Requirements

Proskauer Rose LLP on

On February 28, 2019, the staff of the Division of Investment Management (the "Staff") of the Securities and Exchange Commission (the "SEC") issued a no-action letter permitting the board of directors of a registered fund or...more

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