The SEC’s Division of Investment Management has issued a no-action letter related to participation in the Federal Reserve Board’s 2020 Term Asset-Backed Securities Loan Facility, or TALF 2020.
The SEC’s Division of Investment Management staff has issued a statement regarding the relationship between a section of the Investment Company Act that requires fund shares to have equal voting rights, and state control share statutes that provide a company with the right to change or remove voting rights when a person acquires the ownership of shares equal to or exceeding a specified percentage of the company’s voting power (control shares).
The SEC’s Division of Investment Management has issued two Information Updates regarding no-action letters and other staff statements that have been modified or withdrawn.
The two-year relief permits the company to use this technology to settle certain equity securities trades subject to strict limitations intended to protect market participants.
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