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Revolutionizing Alternatives: Navigating Fund Structures for Retail Investors
This article explores key Investment Company Act fund structures that enable retail access to alternative investments, highlighting their features, compliance obligations, and strategic alignment for fund managers navigating this evolving landscape.
October 22, 2025
IAA and Trades File Letter Supporting CBOE BZX Exchange Proposal to Amend Listed CEF Rule
The IAA joined other trade associations to support a CBOE BZX Exchange proposal to exempt listed closed-end funds from an annual meeting requirement so as to prevent harm to long-term retail investors that are protected by the Investment Company Act of 1940.
August 05, 2024
IAA and Trades File Letter Supporting NYSE Proposal to Amend Listed CEF Rule
The IAA joins other trade associations to support a NYSE proposal to exempt listed closed-end funds from an annual meeting requirement so as to prevent harm to long-term retail investors that are protected by the Investment Company Act of 1940.
July 30, 2024
Comments on Procedures for Review of Exemptive Applications Under the Investment Company Act
The IAA supported the objective of the proposal to make the applications process more efficient. The IAA also supported comments made by the Investment Company Institute regarding the expedited review process, transparency on the timeframe for staff action, and concerns on publication of comments and responses.
November 27, 2019
Comments on Fund of Funds Proposal
The IAA had significant concerns regarding the disruptive impact that the proposed limit on redemptions would have on fund management. The IAA also argued that private funds and foreign funds should be permitted to rely on the proposed rule.
May 02, 2019
Comments on SEC Fund Liquidity Disclosure
The IAA urged the SEC to reconsider the portfolio investment classification requirements of the fund liquidity rule, consistent with recommendations of a report by the Department of the Treasury.
May 18, 2018
SEC Issues Guidance on Disclosure and Filing Requirements for Closed-End Funds of Private Funds
SEC Staff issues clarifying guidance for registered closed-end funds that invest in private funds related to registration statement disclosure and amendments under the Investment Company Act.
August 25, 2025
Webinar Recap: Access to Private Markets for Retail Investors
Hear the latest developments from our recent webinar about individual investors accessing private markets, including through registered and private funds.
June 09, 2025
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