März 25. 2020

COVID-19: SEC Issues Temporary Conditional Relief to Certain Registered Funds and Insurance Company Separate Accounts with Respect to Short-Term Funding from Affiliates

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On March 23, 2020, the US Securities and Exchange Commission issued an order providing exemptions from various provisions of the Investment Company Act of 1940 to provide flexibility to open-end investment companies other than money market funds and insurance company separate accounts registered as unit investment trusts to obtain short-term funding. Each of the exemptions requires conditions to be met. This Legal Update provides further detail.

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