Home No-Action Letters

No-Action Letters

SEC no-action letters

The statement levels “the playing field for funds in states with control share statutes, but it doesn’t put an end to activism”
The staff would not recommend enforcement action to the Commission against a closed-end fund under for opting in to and triggering a control share statute ...
In the staff’s view, the terms and conditions of TALF 2020 are substantially similar to those of TALF 2008 for purposes of the staff no-action ...
There is no ability for the customer to access the FDIC insured bank sweep account directly and/or without going through the broker-dealer
BDC can acquire an investment adviser
On April 8, 2020, the Commission adopted rules that will modify the registration, communications, and offering processes for business development companies and other closed-end investment ...
The Request asks about non-compliance with Rule 15c3-1 if broker-dealers treat certain receivables resulting from bank sweep programs as allowable assets
You state that, because of the coronavirus disease (COVID-19) outbreak, there is a short- term dislocation in the market for a variety of debt securities
The CFTC understands "that the COVID-19 pandemic may present challenges in timely meeting certain of their obligations"
It is not a rule, regulation, or statement of the Securities and Exchange Commission. The Commission has neither approved nor disapproved its content.
IM encourages investment advisers and funds to contact the Division staff with any concerns about the potential effects of COVID-19 on their operations
A Private Investment Fund or Privately-offered RIC should not be deemed to be "narrowly held"
BCP can file Form N-23C-2 on the same business day as the Company’s redemption of an entire class or series of its preferred shares
Revised no-action position with respect to uncleared swaps with the European Stability Mechanism under Commission Regulations 23.150-159, 23.161.
Revised no-action relief for the European Stability Mechanism from the swap clearing requirement in Section 2(h)(1) of the Commodity Exchange Act and Commission Regulations 50.2 ...
Redwood Trust, Inc. Aug. 15, 2019   Investment Company Act of 1940 – Section 3(c)(5)(C)   August 15, 2019   RESPONSE OF THE CHIEF COUNSEL'S ...
Lehman Brothers Holdings Inc. Aug. 12, 2019   Investment Company Act of 1940 – Section 7 August 12, 2019 Response of the Chief Counsel’s Office ...
XAI Octagon Floating Rate & Alternative Income Term Trust Aug. 6, 2019   Response of the Office of Chief Counsel Division of Investment Management August ...
Cushing MLP & Infrastructure Total Return Fund and Cushing Renaissance Fund Aug. 6, 2019   RESPONSE OF THE OFFICE OF CHIEF COUNSEL DIVISION OF INVESTMENT ...
rcw
rcw

Copyright PEI Media

Not for publication, email or dissemination