An SEC final rule on exemptions for mutual funds, exchange-traded funds, registered closed-end funds and business development companies when entering into derivatives transactions was published in the Federal Register.
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The SEC adopted a final rule on exemptions for mutual funds, exchange-traded funds, registered closed-end funds and business development companies when entering into derivatives transactions.
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.