The Securities and Exchange Commission (“SEC”) announced an open meeting to be held on September 30, 2026. The SEC will consider several matters relating to investment advisers, closed-end funds and business development companies and accredited investors.
The SEC will first consider whether to propose amendments to the rule under the Investment Advisers Act of 1940 that provides an exemption from the statutory prohibition on registered investment advisers receiving compensation based on a share of capital gains in, or capital appreciation of, an advisory client’s account. The proposed amendments would also include enhanced disclosure requirements relating to performance-based compensation arrangements.
The SEC will also consider whether to propose amendments to the Investment Company Act of 1940 rule that permits regulated closed-end funds to make repurchase offers to shareholders at net asset value at periodic intervals. The proposed amendments are also expected to expand the ability of regulated closed-end funds and business development companies to issue multiple share classes.
Finally, the SEC will consider whether to designate certain certifications, designations or credentials as qualifying for accredited investor status.
The meeting will be held on September 30 at 10:00 a.m. ET and will be open to the public and webcast on the SEC’s website. The SEC’s agenda is available here.