Loading ...
Sorry, an error occurred while loading the content.
 

1940 Act R&D Exemption Proposed

Expand Messages
  • Baker, John
    The Securities and Exchange Commission last week proposed a new rule under the Investment Company Act of 1940 that would provide a nonexclusive safe harbor
    Message 1 of 1 , Dec 2, 2002
      The Securities and Exchange Commission last week proposed a new rule under the Investment Company Act of 1940 that would provide a nonexclusive safe harbor from the definition of investment company for certain bona fide research and development companies. Release No. IC-25835 (Nov. 26, 2002). R&D companies frequently have to worry about their possible status as investment companies because they typically have substantial capital invested to fund research and development activities. The proposed rule would create a safe harbor for R&D companies that meet certain financial tests. Comments on the proposed rule are due on or before January 15, 2003. The proposing release is available online at

      http://www.sec.gov/rules/proposed/ic-25835.htm


      John M. Baker <JMB@...>
      Stradley, Ronon, Stevens & Young, LLP Http://www.stradley.com
      1220 19th Street, N.W., Suite 600, Washington, DC 20036
      (202) 419-8413 Fax (202) 822-0140
      FundLaw Listowner Http://groups.yahoo.com/group/fundlaw
    Your message has been successfully submitted and would be delivered to recipients shortly.