With much of the country shut down due to COVID-19, many U.S. companies are facing difficult questions when scheduling their annual shareholder meetings, including whether to delay or move such meetings or hold them virtually. In response to the uncertainty COVID-19 has injected during the busiest time for annual meetings, the Securities and Exchange Commission
SEC Proposes to Modernize Regulation of the Use of Derivatives by Registered Investment Companies
On November 25, 2019, the Securities and Exchange Commission (the “SEC”) proposed new rules that would govern the use of derivatives by most types of registered investment companies. Re-proposed new rule 18f-4, an exemptive rule under the Investment Company Act of 1940, as amended (the “Investment Company Act”) (the, “proposed derivatives rule”), would permit mutual