Investment Management, Board of Directors, Securities and Exchange Commission (SEC)

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

K&L Gates LLP on 5/6/2025

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

A New Era for Co-Investments?

SEC Compliance Consultants, Inc. (SEC³) on 4/24/2025

The SEC just proposed major updates that could make life easier for BDCs, closed-end funds, and their advisers when it comes to co-investing. Under the proposed relief granted to FS Credit Opportunities Corp., the SEC is...more

SEC Signals Adoption of Innovative Co-Investment Exemptive Relief

Paul Hastings LLP on 4/18/2025

The Securities and Exchange Commission’s Division of Investment Management (SEC) recently issued public notices indicating its imminent decision to grant several applications for a new form of exemptive relief for certain...more

April Welcomes More Flexible Co-Investment Exemptive Relief Under the Investment Company Act of 1940

Katten Muchin Rosenman LLP on 4/14/2025

On April 3, the US Securities and Exchange Commission (SEC) approved an exemptive application1 that allows for a more flexible co-investment transaction approval process. This new relief simplifies the process followed by...more

Crosscurrents: J.S. Held’s Environmental, Social & Governance Observations (Fiduciary Duties Become Political)

J.S. Held on 10/24/2022

The Attorneys General for both Indiana and Louisiana have issued opinions that environmental, social, and governance (ESG) criteria violate the fiduciary duty owed to corporate investors absent full disclosure of the use of...more

ISS Publishes 2021 Proxy Voting Guidelines

Goodwin on 11/19/2020

In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more

SEC Proposes New Rule to Change Regulatory Framework for Fund Boards in Making Good Faith Determinations of Fair Value

Goodwin on 4/30/2020

On April 21, 2020, the U.S. Securities and Exchange Commission (the “SEC”) voted to propose new Rule 2a-5 (the “Proposed Rule”) under the Investment Company Act of 1940 (the “1940 Act”) that, if adopted, would establish a...more

SEC Loosens In-Person Voting Requirement for BDC Boards

Mayer Brown Free Writings + Perspectives on 3/13/2019

On February 28, 2019, the staff of the Securities and Exchange Commission’s Division of Investment Management issued a no-action letter to the Independent Directors Council permitting board members of a business development...more

SEC Staff Relaxes Certain In-Person Board Voting Requirements for Registered Investment Companies

Perkins Coie on 3/11/2019

The SEC’s Division of Investment Management has relaxed certain in-person voting requirements for fund boards, subject to certain conditions, in a no-action letter to the Independent Directors Council (the IDC) issued on...more

A Practical Guide to the Regulation of Hedge Fund Trading Activities - Chapter 3: Special Issues under Sections 13(d) and 16 for...

Proskauer Rose LLP on 1/22/2019

The filing requirements and liability provisions under Sections 13(d) and 16 of the Exchange Act continue to challenge hedge funds, due to sometimes opaque law and complex trading patterns. Although the requirements under...more

Investment Management › Board of Directors › Securities and Exchange Commission (SEC)