SEC Issues Final Rule on Regulatory Framework for Fund-of-Funds Arrangements
SEC Issues Final Rule on Regulatory Framework for Fund-of-Funds
October 7, 2020
The SEC has issued a final
rule, Fund of Funds Arrangements. The final rule will
update the Investment Company Act of 1940 to “streamline and enhance the regulatory
framework applicable to funds that invest in other funds (‘fund of funds’
arrangements).” In addition, the SEC is “rescinding rule 12d1-2 under the Act and
most exemptive orders granting relief from sections 12(d)(1)(A), (B), (C), and (G)
of the Act” and adopting amendments to Rule 12d1-1 and Form N-CEN.
For more information, see the press
release on the SEC’s Web site.