No-Action Letters

It is not a rule, regulation, or statement of the Securities and Exchange Commission. The Commission has neither approved nor disapproved its content.

IM encourages investment advisers and funds to contact the Division staff with any concerns about the potential effects of COVID-19 on their operations

A Private Investment Fund or Privately-offered RIC should not be deemed to be "narrowly held"

BCP can file Form N-23C-2 on the same business day as the Company’s redemption of an entire class or series of its preferred shares

Revised no-action position with respect to uncleared swaps with the European Stability Mechanism under Commission Regulations 23.150-159, 23.161.

Revised no-action relief for the European Stability Mechanism from the swap clearing requirement in Section 2(h)(1) of the Commodity Exchange Act and Commission Regulations 50.2 ...

Redwood Trust, Inc. Aug. 15, 2019   Investment Company Act of 1940 – Section 3(c)(5)(C)   August 15, 2019   RESPONSE OF THE CHIEF COUNSEL'S ...

Lehman Brothers Holdings Inc. Aug. 12, 2019   Investment Company Act of 1940 – Section 7 August 12, 2019 Response of the Chief Counsel’s Office ...

XAI Octagon Floating Rate & Alternative Income Term Trust Aug. 6, 2019   Response of the Office of Chief Counsel Division of Investment Management August ...