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SEC Releases Final Interpretation of the Standard of Conduct for Investment Advisers

The SEC has, for some time, been reviewing the standard of conduct required of investment advisers and broker-dealers under federal securities laws. Recently, these various initiatives concluded with the publication of four final items of guidance.

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New Fund-of-Funds Rule

An increasing number of private fund managers are turning to alternative products registered under the Investment Company Act of 1940 as a means of growing their assets under management and diversifying their product offerings and revenue streams.

Click here for special counsel Pamela Poland Chen‘s discussion of how closed-ends funds with the look and

A decision issued on Jan. 24, 2017, in the U.S. District Court for the Southern District of New York dismissed a complaint alleging the payment of excessive advisory and administration fees by Prospect Capital Corporation, a business development company regulated under the Investment Company Act of 1940.

Click here to read more about these developments.