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ARTICLE · 03 APRIL 2025

SEC Extends Compliance Dates For The 'Names Rule' Amendments

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On March 14, 2025, the Securities and Exchange Commission (SEC) issued the following press release (Release) to extend compliance with the amendments...

United StatesFinance and Banking
Richard Marshall
Richard Marshall
Sean Geercken
Sean Geercken
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On March 14, 2025, the Securities and Exchange Commission (SEC) issued the following press release (Release) to extend compliance with the amendments (Amendments) to Rule 35d-1 (Names Rule) under the Investment Company Act of 1940, as amended. The Amendments (as described in our prior client advisory, SEC Adopts Amendments to 'Names Rule' Impacting Regulated Investment Funds) require funds to refrain from naming conventions that are likely to mislead investors, with a focus on ensuring that funds with names that suggest a particular investment focus adopt an investment policy that evidences at least 80 percent of the value of the fund's assets will be invested in the industry, type of investment, or geographic region suggested by the fund's name. The SEC originally bifurcated compliance dates with the Amendments between larger and smaller funds, with larger funds being required to comply by December 11, 2025, and smaller funds being required to comply by June 11, 2026.

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