Share on LinkedInShare on LinkedIn

ARTICLE · 09 DECEMBER 2015

SEC To Consider Fund Derivatives Rules

Morrison Foerster
Morrison Foerster
Contributor
Morrison Foerster

Morrison Foerster

With approximately 1,000 lawyers in 19 offices, Morrison & Foerster is a preeminent global law firm...

View firm profile
Explore more from Morrison Foerster

Many observers expect the Commission to propose substantive limits on the use of leverage by investment companies and BDCs.

United StatesFinance and Banking
Jay Baris
Jay Baris
Author LinkedIn connections

The SEC announced that on December 11, 2015 that it will consider whether to propose a new rule and amendments to certain proposed forms related to the use of derivatives by registered investment companies and business development companies (BDCs). Many observers expect the Commission to propose substantive limits on the use of leverage by investment companies and BDCs.

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP. All rights reserved

View source

Related Articles

Read more about

Related Comparative Guides

See more popular content from

Article

The Enterprise Software Debt Crisis: What Cracks In Private Credit Mean For The Industry

Private credit markets are showing signs of stress, with enterprise software borrowers particularly vulnerable as AI disruption threatens their business models. Four critical warning signals—deteriorating credit health, rising PIK interest, mid-market concentration of defaults, and strategic misalignment with AI—suggest lenders need to shift from passive monitoring to active portfolio management before the 2028 debt maturity wall arrives.
United StatesFinance and Banking
AlixPartners Asia LLC
AlixPartners Asia LLC
Article

SEC Staff Grants No-action Relief For Custody Of Digital Assets (Limited To Specific Fund Shares) Under The Investment Company Act

The SEC's Division of Investment Management has issued groundbreaking no-action relief allowing Franklin Templeton registered funds to custody tokenized shares of a blockchain-integrated government money market fund with an affiliated transfer agent. This marks the first time SEC staff has applied the Investment Company Act's self-custody framework to digital assets, establishing a precedent for how registered funds may hold tokenized securities using blockchain technology and multi-party computation protoc
United StatesFinance and Banking
A&O Shearman
A&O Shearman
Article

SEC Proposes To Rescind The Pay-to-Play Rule And Delays Compliance Date For 2024 Form PF Amendments To July 1, 2027

The SEC has proposed rescinding its controversial Pay-to-Play Rule, which has governed political contributions by investment advisers since 2010. The proposal reflects a philosophical shift toward principles-based regulation and addresses longstanding industry concerns about the rule's strict liability standard, complex definitions, and severe consequences for minor violations.
United StatesFinance and Banking
Goodwin Procter LLP
Goodwin Procter LLP
Article

Treasury Proposes GENIUS Act Rules For Stablecoin Issuance And Sales

On August 18, the U.S. Department of the Treasury published a notice of proposed rulemaking to implement Section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposal would establish rules governing who may issue payment stablecoins in the United States and when digital asset service providers may offer, sell, or otherwise make payment stablecoins available to U.S. persons. Comments are due October 19, 2026.
United StatesFinance and Banking
Sheppard
Sheppard
Article

Fintech Agrees To Acquire National Bank Partner For $590 Million

A publicly traded fintech company has announced a $590 million acquisition of its longtime national bank partner, marking a strategic shift from the traditional bank-partnership model to direct ownership of a national bank charter. The transaction, expected to close in the first half of 2027 pending regulatory approvals, would make the fintech a bank holding company while consolidating its banking activities and eliminating certain sponsor-bank fees. This deal represents a faster alternative to pursuing a d
United StatesFinance and Banking
Sheppard
Sheppard
Article

SEC Charges Adit Ventures Management, Its CEO And Affiliated General Partners For Alleged Fraud

The SEC has filed a complaint against Eric Munson and Adit Ventures Management, alleging a multi-year scheme involving misrepresentation to investors, misappropriation of fund assets, and undisclosed conflicts of interest. The case involves over 60 funds with at least 1,000 investors, where the defendants allegedly induced investments through false promises, executed unauthorized loans between funds, and engaged in undisclosed self-dealing transactions while failing to properly register as an investment adv
United StatesFinance and Banking
Dinsmore & Shohl LLP
Dinsmore & Shohl LLP