January 17, 2022

Volume XII, Number 17

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January 15, 2022

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January 14, 2022

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SEC Adopts Amendments to Filing Fee Disclosure and Payment Methods

On October 13, 2021, the SEC adopted amendments to modernize filing fee disclosure and payment methods for, among others, closed-end funds (other than interval funds) and business development companies (BDCs) filing on Forms N-2 and N 14. The amendments will eliminate the fee disclosure currently included on the facing sheets of most registration statements and instead will require that affected registrants include a filing fee exhibit with tables presenting all fee-related information in a structured data format. The SEC also adopted amendments permitting payment of filing fees via Automated Clearing House (ACH) and debit and credit cards, and eliminated the option to pay filing fees by paper check or money order. The amendments generally will be effective on January 31, 2022; however, the amendments adding or eliminating payment options will be effective on May 31, 2022. Investment companies and BDCs filing on Forms N-2 and N-14 will become subject to the structuring requirements for filings they submit on or after July 31, 2025.

The adopting release is available here.

 

© 2022 Vedder PriceNational Law Review, Volume XI, Number 323
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About this Author

John Marten Investment Attorney Vedder Price Law FIrm
Shareholder

John S. Marten, a Shareholder in the Chicago office of Vedder Price, has substantial experience representing clients in the investment management industry.

As a member of the firm’s Investment Services group, Mr. Marten counsels clients on a wide variety of matters involving the application of the federal securities laws to investment companies, investment advisers and broker-dealers. He has significant experience counseling investment company clients with respect to new products and was recently involved in the creation of two mutual funds...

(312) 609 7753
Nathaniel Segal Investment Attorney Vedder Price Law Firm
Counsel

Nathaniel Segal is counsel at Vedder Price and a member of the Investment Services group. He focuses his practice on investment companies and investment advisers in connection with the organization and operation of investment products and services, including traditional mutual funds, closed-end investment companies (including interval funds and listed closed-end funds), variable insurance products and registered hedge funds, as well as mutual funds utilizing complex hedging and absolute return strategies. Mr. Segal has experience in conducting transactional due diligence...

(312) 609 7747
Jacob Tiedt,Vedder Price law firm investment services attorney
Shareholder

Jacob C. Tiedt is a Shareholder at Vedder Price and a member of the Investment Services group.

Mr. Tiedt’s practice includes the representation of registered mutual funds, closed-end funds and exchange-traded funds; private funds; investment advisers; and other financial institutions on a broad range of regulatory, governance and compliance matters. Mr. Tiedt regularly counsels clients on matters relating to SEC registration, disclosure and compliance; shareholder solicitation; NYSE, Nasdaq and FINRA regulation; corporate governance; and board administration. Mr....

312-609-7697
Kelly Carr Investment Attorney Vedder Price
Associate

Kelly Pendergast Carr is an Associate at Vedder Price and a member of the firm’s Investment Services group in the Chicago office.

Ms. Carr focuses her practice on representing registered investment companies, including mutual funds, closed-end funds and exchange-traded funds (ETFs), as well as their independent directors and investment advisers. She assists these clients with regulatory, transactional and compliance matters.

312-609-7719
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