On May 25, 2022, the U.S. Securities and Exchange Commission (“SEC”) released proposed amendments to Rule 35d-1 (the “Names Rule”), under the Investment Company Act of 1940. The proposal will affect registered investment companies and business development companies (together referred to as “fund(s)”). According to the SEC release, the amendments are designed to increase investor protection and modernize the Names Rule, bringing it in line with contemporary industry requirements and practices. The SEC believes that the amendments would enhance transparency in the asset management market and ensure that a fund’s name does not misrepresent the fund’s investments and risks.
2022 13.07 0