At an open meeting yesterday, May 25, 2022, the US Securities and Exchange Commission (SEC) approved two new proposals that will impact the fund and investment management industry. One of the proposals is directed solely at registered funds and business development companies (BDCs), while the other applies to registered funds, BDCs, registered investment advisers (RIAs) and exempt reporting advisers (ERAs). This Legal Update provides a brief summary of each proposal. A more in-depth analysis of these proposals in a separate publication will be provided in the coming days.
