SEC Proposes Offering Reforms for Business Development Companies and Registered Closed-End Funds

The SEC has issued a proposed rule, Securities Offering Reform for Closed-End Investment Companies.

The proposal would “modify the registration, communications, and offering processes available to [business development companies] and registered closed-end funds, building on offering practices that operating companies currently use.” Comments on the proposed rule are due 60 days after the date of its publication in the Federal Register.

For more information, see the press release and proposed rule on the SEC’s Web site.