Recent Developments
Sutherland follows developments related to BDCs, SBICs, and other alternative asset structures. Visit here to find summaries of significant new rules and rule proposals, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) directly related to these structures, as well as industry comment letters, and other related regulations.
Sutherland regularly issues legal alerts with industry relevance, and posts news related to recent industry transactions.
BDCs
SBICs
- SBA is seeking comments on a proposal to increase small business size standards for 35 industries and one sub-industry in the North American Industry Classification System (NAICS), recognizing that changes in industries and in the marketplace over time have created the need for an update to the size standards. Comments are due May 16, 2011.
- Dodd-Frank exempts SBICs from new regulations requiring private funds with over $150 million in assets under management to register with the SEC. July 21, 2010
- Dodd-Frank "Volcker Rule" contains an explicit reprieve from the 3% limitation -- which otherwise provides that a bank or other financial institution: (1) may not invest more than 3% of its Tier 1 capital into private equity funds; and (2) cannot represent more than 3% of the total capital of a given private equity fund -- when banks invest in private equity funds that are licensed SBIC funds. July 21, 2010
SPACs
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Dodd-Frank
For more detailed information about the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) , please visit Sutherland's Regulatory Reform Task Force website.
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