Permitted Purchases of Debt Securities by Business and Industrial Development Companies (SEC Final Rule; Pre-Fed. Reg. Version)

The SEC is adopting a new rule 6a-5 under the Investment Company Act of 1940 to establish a standard of creditworthiness in place of a statutory reference to credit ratings that the Dodd-Frank Act removes. The rule will apply to entities registered as business and industrial development companies.

Effective Date: 30 days after the date of publication in the Federal Register.

View final rule here (links externally to SEC website).