News & Analysis as of

Proposed Rules Exemptions Investment Company Act of 1940

Lowenstein Sandler LLP

SEC Proposes to Modify Section 3(c)(1) Investment Company Act Exemption for Certain Private Funds

Lowenstein Sandler LLP on

On February 14, 2024, the U.S. Securities and Exchange Commission (the SEC) proposed a rule (the Proposal) that would increase the threshold for what is considered a “qualifying venture capital fund” from $10 million to $12...more

Dechert LLP

SEC Proposes to Expand “Test-the-Waters” Modernization Reform to All Issuers

Dechert LLP on

On February 19, 2019, the U.S. Securities and Exchange Commission (the “SEC”) proposed new rule 163B under the Securities Act of 1933, as amended (the “Securities Act”), which would permit all issuers, not just Emerging...more

Eversheds Sutherland (US) LLP

SEC proposes to expand “testing-the-waters” provisions to all issuers

On February 19, 2019, the Securities and Exchange Commission (SEC) announced a proposal to expand the “testing-the-waters” exemption to all issuers. Currently the exemption is limited to emerging growth companies (EGCs)....more

Vedder Price

Investment Services Regulatory Update - August 2018

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS – OCIE Publishes Risk Alert on Compliance Issues Relating to Best Execution – On July 11, 2018, the Office of Compliance Inspections and...more

K&L Gates LLP

In a Welcome Development, the SEC Proposes an ETF Rule

K&L Gates LLP on

On June 28, 2018, at an open meeting of the U.S. Securities and Exchange Commission (the “Commission” or “SEC”), the Commissioners unanimously approved the proposal of Rule 6c-11 under the Investment Company Act of 1940, as...more

Dechert LLP

Financial Services Quarterly Report - Second Quarter 2018: U.S. SEC Issues ETF Rule Proposal

Dechert LLP on

The Securities and Exchange Commission on June 28, 2018 proposed Rule 6c-11 under the Investment Company Act of 1940, together with certain form amendments, which would allow most exchange-traded funds to operate without...more

A&O Shearman

SEC’s Proposed Rule 6c-11 Would Level the ETF Playing Field

A&O Shearman on

The Securities and Exchange Commission on June 28, 2018 proposed a long-anticipated rule that would allow most exchange-traded funds (ETFs) to operate and come to market without applying for individual exemptive orders. If...more

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