SEC Proposes Significant Changes to Rules for Funds of Funds
In late December, the SEC proposed changes it said would “streamline and enhance the regulatory framework applicable to funds that invest in other funds.” The proposal would rescind Rule 12d1-2 and most funds-of-funds-related exemptive orders and instead provide a new framework for funds of funds under a new Rule 12d1-4. Our client memo examines the scope of the proposed rule and what the changes would mean in areas including voting, redemptions and fees.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
Copy link to share post