SEC Amends Procedures for Exemptive Applications

The SEC has issued a final rule, Amendments to Procedures With Respect to Applications Under the Investment Company Act of 1940. The final rule establishes an expedited review procedure for “exemptive and other applications under the Investment Company Act that are substantially identical to recent precedent, as well as a new informal internal procedure for applications that would not qualify for the new expedited process.”

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