SFA Responds to SEC Proposal to Amend Investment Advisers Act

On April 25, SFA submitted a letter to the Securities and Exchange Commission (SEC) in response to its proposal to amend the Investment Advisers Act of 1940. The lengthy proposal would expand regulatory requirements and impose new prohibitions on private funds, defined in a way that includes many CLOs. In its letter, SFA explains the differences between CLOs and other types of private funds while advocating the importance for final rules to only apply on a prospective basis. SFA intends to provide additional information through the submission of a second, follow-along letter. Sign up for SFA’s CLO Committee if you are interested in joining the discussion.  Read more.