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 SEC proposed a new rule and several amendments that would "streamline and enhance" the regulatory framework of mutual funds investing in shares of another fund.
Available only to Cabinet Premium subscribers.
Combining regulatory and enforcement news, analysis, and practical work tools on an easy-to-use digital platform.