Transcription of Final Rule: Fund of Funds Arrangements - SEC
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Conformed to Federal Register version SECURITIES AND EXCHANGE COMMISSION. 17 CFR Parts 270 and 274. Release Nos. 33-10871; IC-34045; File No. S7-27-18. RIN 3235-AM29. fund of Funds Arrangements AGENCY: Securities and Exchange Commission. ACTION: Final rule. SUMMARY: The Securities and Exchange Commission (the Commission ) is adopting a new rule under the Investment Company Act of 1940 ( Investment Company Act or Act ) to streamline and enhance the regulatory framework applicable to Funds that invest in other Funds ( fund of Funds Arrangements ). In connection with the new rule, the Commission is rescinding rule 12d1-2 under the Act and certain exemptive relief that has been granted from sections 12(d)(1)(A), (B), (C), and (G) of the Act permitting certain fund of Funds Arrangements .
Fund of Funds Arrangements, Investment Company Act Release No. 10590 (Dec. 19, 2018) [84 FR 1286 (Feb 1, 2019)] (“2018 FOF Proposing Release”). For purposes of this release and rule 12d1-4, we generally use the term “funds” to refer to registered investment companies and business development
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