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Rajib Chanda quoted in Ignites on New SEC Closed-End Fund Reforms
04.20.20
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Corporate Partner Rajib Chanda was quoted in an Ignites article titled, “Closed-End Fund Rule Doesn't Meet Congress’s Goal: Lawyer.” The article explores the impact of the SEC’s newly adopted rule amendments that aim to ease the registration process and alleviate certain filing burdens placed on closed-end funds and business development companies, and put them on par with operating companies. The article posits the new closed-end fund reforms create too high a barrier for issuers to gain relief, therefore allowing only a small subset of products to qualify for the most useful provisions. Discussing the reforms, Rajib said, “[i]t doesn’t fully actualize the benefits that Congress had in mind for closed-end funds and business development companies. It’s going to have less of a practical effect than it could have had.”
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