The staff of the SEC Division of Investment Management withdrew 2010 guidance which reviewed the permissibility of an SEC-registered, closed-end fund determining to opt in to a control share acquisition statute authorized under state law.
The Managed Funds Association and the Alternative Investment Management Association recommended modifications to the SEC's proposal on the use of derivatives by registered investment companies and business development companies.
The Investment Company Institute offered recommendations on the SEC's "re-proposed" rule to provide a comprehensive approach to the regulation of funds’ use of derivatives and other senior securities transactions.
FINRA provided its member firms temporary relief from the Form U4 fingerprinting requirements. FINRA also issued additional resources designed to help its members navigate restrictions and regulatory relief as a result of the coronavirus pandemic.
To assist individuals in working from home during the coronavirus social-distancing period, Cadwalader is providing clients and friends free access to our legal research platform, the Cadwalader Cabinet.
The SEC Division of Corporation Finance and Division of Investment Management provided guidance for market participants affected by COVID-19 who may have difficulties complying with federal proxy rules.