• Sat. May 8th, 2021

SEC Extends Relief for Virtual Meetings of Fund Boards

SEC Extends Relief for Virtual Meetings of Fund Boards

SEC continues to closely monitor the impact of COVID-19 on investors, funds, and investment advisers

Washington DC (STL.News) Today, the Securities and Exchange Commission announced that it is extending conditional relief from the in-person voting requirements for fund boards that it originally provided in March 2020.  That relief will now extend at least through December 31, 2020.  Today’s extension is designed to provide flexibility to boards of registered funds and business development companies (funds) that may continue to face challenges meeting in person.

The Commission initially provided in-person board meeting relief in March as part of broader exemptive orders providing temporary relief from several requirements of the Investment Company Act and Investment Advisers Act.  Based on staff outreach to fund and adviser representatives, the Commission has determined not to extend the other relief provided in those orders at this time.  The Commission and its staff continue to assess impacts relating to COVID-19 on investors and market participants.  Firms and financial professionals affected by COVID-19 are encouraged to contact the staff with questions and concerns.

NOTE: this is NOT the complete release.

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Marty Smith

Marty Smith

Marty Smith is the acting Editor in Chief as well as the founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. Additionally, Smith is the IT Manager responsible for STL.News and affiliate sites. Smith has created multiple aggregator sites to manage the large amount of content used to select which content to published on STL.News. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe.