The SEC has recently announced a significant extension to the compliance dates for the amendments to the Investment Company Act’s Names Rule.
Initially set in September 2023, these amendments aim to prevent misleading fund names that could misrepresent the nature of investments and associated risks.
The revised timeline provides larger fund groups until June 11, 2026, to comply, while smaller fund groups have until December 11, 2026. This extension grants funds crucial additional time to enhance their compliance systems, complete necessary adjustments, and conduct thorough testing of their compliance strategies.
The SEC has strategically scheduled the new compliance dates to coincide with funds’ annual reporting and disclosure cycles. This alignment is intended to mitigate the financial impact on funds by integrating the changes with existing fiscal schedules, thereby reducing the burden of additional operational costs.
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