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Business Development Companies

The Securities and Exchange Commission (the “Commission”) is proposing rules that would modify the registration, communications, and offering processes for business development companies (“BDCs”) and other ...
After achieving 100% of its planned milestone’s last year, the SEC’s Division of Investment Management is actively moving on a number of priorities comprising its ...
SEC commissioners March 20 approved a new proposal that would streamline the registration process for BDCs and other closed-end investment companies. It also includes two ...
We are adopting a rule to implement a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new rule requires a company ...
The SEC was crystal clear in its 2018 priorities letter and the pronouncement will likely appear yet again in next year’s iteration: “the proper disclosure ...
Although this accounting error was not quantitatively large as a percentage of net asset value or net income, KCAP determined that the erroneous recording and ...
This matter arises from FSM’s improper allocation of expenses to its former business development company (“BDC”) clients, and failures relating to the valuation of two ...
The Commodity Futures Trading Commission (CFTC or Commission) is proposing amendments to its regulations to permit commodity pool operators (CPOs) that only solicit and/or accept ...
The SEC’s Division of Investment Management is revisiting the prohibition on the use of testimonials as part of its broader effort to consider recommendations to ...
Investment Company Act of 1940 — Section 57(a) and Rule 17d-1 Golub Capital BDC, Inc., et al. September 7, 2018 Response of the Chief Counsel's ...
Some dispute that the recent SEC document request letter on business development companies that we shared with you comes from a sweep exam (IA Watch, ...
This correspondence is another OCIE document request letter that looks at business development companies.
With cybersecurity risks threatening our privacy, it’s no wonder some would seek technology to shield their communications from prying eyes. But you can also understand ...
A peer at an investment advisory firm that has BDC funds shares a copy of a OCIE sweep exam letter sent to the firm.
FINRA has announced that it is conducting a targeted exam sweep with respect to non-traded business development companies. The SRO is asking that selected broker-dealers ...
The FAST Act revised the venture capital fund adviser exemption by deeming SBICs to be venture capital funds for purposes of the exemption. Because an ...
It could seem that an SEC enforcement action against a business development company is as rare as a winter sun in Alaska. But recently the ...
INVENT also misrepresented its valuation policy in its periodic filings and failed to implement it, in that INVENT did not consult an advisory board about ...
The Securities and Exchange Commission is proposing rule 18f-4, a new exemptive rule under the Investment Company Act of 1940 designed to address the investor ...
An off-balance sheet loan program coming into wider use has been providing a partial work-around to the one-to-one debt-to-equity ratio cap for business development companies, ...
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