BDCs and Registered Funds


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.