Author: Elizabeth Webb

It’s All in the Name: SEC Targets Misleading Fund Names in Push for Increased Investor Protection

On September 20, 2023, the US Securities and Exchange Commission (the “SEC”) adopted amendments to rule 35d-1 under the Investment Company Act of 1940 (the “Names Rule”) to target misleading practices by US investment funds, including “greenwashing”. The Names Rule, which applies to certain registered investment companies (“RICs”) and business development companies (“BDCs”) (together, “funds”) generally targets what the SEC considers to be misleading fund names. Read our note for a summary of the requirements.