WASHINGTON, D.C. (March 3, 2021) -- The Securities and Exchange Commission’s Division of Examinations has announced its 2021 examination priorities, including a greater focus on climate-related risks, conflicts of interest for brokers (Regulation Best Interest) and investment advisers (fiduciary duty), and attendant risks relating to FinTech. Read the press release > Read the report > ### [...]
WASHINGTON, D.C. (February 16, 2021) -- U.S. Senate Banking Committee Ranking Member Pat Toomey (R-PA) and U.S. House Financial Services Committee Ranking Member Patrick McHenry (R-NC) are urging the Securities and Exchange Commission (SEC) to start or complete seven good government initiatives, several of which have been awaiting action for years. Read more > ### About the Small [...]
WASHINGTON, D.C. (January 7, 2021) -- The SEC has released a number of updates to the targeted relief measures it has taken during the pandemic. One of these updates is related to the order issued last April regarding co-investment transactions. While the SEC is not technically extending the applicability date of that order, it has announced it [...]
WASHINGTON, D.C. (December 5, 2020) -- In April, the Securities and Exchange Commission issued an order regarding coinvestment transactions, providing temporary, conditional exemptive relief for business development companies (BDCs) to enable them to make additional investments in small and medium-sized businesses, including those with operations affected by COVID-19. On December 4, the SBIA submitted a letter to the SEC requesting an [...]
WASHINGTON, D.C. (December 4, 2020) -- On December 4, the Small Business Investor Alliance (SBIA) submitted a letter to the Securities and Exchange Commission (SEC) regarding the agency's proposed amendments to rules that require an open-end management investment company to disclose “acquired fund fees and expenses” (AFFE). We applaud the SEC for taking into account many [...]
Bipartisan bill would ensure accurate disclosure to small business investors Amendments will update and modernize mutual fund and exchange-traded fund disclosures to provide greater clarity and more consistent information regarding fees, expenses, and principal risks Washington, D.C. (August 10, 2020) – The Small Business Investor Alliance (SBIA), the premiere association representing lower middle market private [...]
Bipartisan bill would ensure accurate disclosure to small business investors WASHINGTON, D.C. (June 25, 2020) – The Small Business Investor Alliance (SBIA), the premiere association representing Business Development Companies (“BDCs”) and lower middle market private equity and its investors, today announced that bipartisan legislation has been introduced by Rep. Brad Sherman (D-CA) and Rep. Steve Stivers (R-OH) that [...]
By BDC Council | May 15, 2020 New guidance from the Internal Revenue Service allows RICs and REITs to retain more capital by distributing less cash to shareholders in certain stock distributions—welcome relief during the current economic volatility resulting from the coronavirus (COVID-19) pandemic. “The new guidance temporarily expands the existing safe harbor of Revenue Procedure [...]
WASHINGTON, D.C. (April 16, 2020) -- On April 9, the Federal Reserve announced initial details of the Main Street Lending Program (MSLP), which will establish a credit facility intended for small and midsize businesses that are facing a credit squeeze in the wake of the COVID-19 pandemic. The program consists of a Main Street New Loan [...]
By BDC Council | April 8, 2020 The SEC continues to undertake operational initiatives, market-focused actions, and investor protection efforts as well as enact targeted assistance and relief in response to the effects of COVID-19. “BDCs were created to provide capital to smaller domestic operating companies that otherwise may not be able to readily access [...]