An SEC-proposed new rule and amendments that would "streamline and enhance" the regulatory framework for fund of funds was published in the Federal Register. Comments must be submitted by May 2, 2019.
As previously covered, under the proposal, a fund would not need an individual exemption order from the SEC when it takes shares from another fund that exceed Investment Company Act limits.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
