The Chief Accountant of the SEC’s Division of Investment Management has issued a “Dear CFO Letter” to assist funds, advisers, and their independent public accountants “in addressing certain accounting, auditing, financial reporting, or other related disclosure matters.”
The SEC has approved an order from an alternative registered investment company to suspend redemptions due to the fund’s inability to value swaps in the fund’s portfolio.
The SEC voted to propose new Rule 2a-5 under the Investment Company Act that would govern valuation practices and the role of the board of directors in the determination of the fair value of the investments of a registered investment company or business development company.
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