Closed-End Funds Content

On June 29, 2023, Saba Capital Management, L.P. ("Saba") filed a complaint in the United States District Court of the Southern District of New York against sixteen closed-end funds and several trustees overseeing some of the named funds.

On July 18, the Central Bank of Ireland (CBI) published a discussion paper entitled "An approach to macroprudential policy for investment funds" (Discussion Paper). The CBI is accepting comments until November 15.

Last week, the State of Maryland enacted several amendments to its corporate laws that, among other things, will apply its "control share" statute to registered closed-end funds and business development companies (together, "funds") that are structured as statutory trusts.[1]...

Last week, the Securities and Exchange Commission adopted amendments that will require enhanced disclosure when an issuer repurchases its own equity securities. The amendments will require an issuer, including exchange-traded closed-end funds registered under the Investment Company...

Last month, the Securities and Exchange Commission adopted amendments that will impact certain insider trading plans under Rule 10b5-1 under the Securities Exchange Act of 1934 and related disclosure.

At a public session on December 19, the US Financial Stability Oversight Council (FSOC or Council) issued its 2022 annual report to Congress. As required by statute, the FSOC report addresses significant financial market and regulatory developments, provides an assessment of those...