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No-Action Letters

SEC no-action letters

Two SEC commissioners believe six-month relief for non-compliance presents unacceptable risk to investors
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"
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