INVESTMENT COMPANY ACT

Bills and resolutions

SEC: allow the owning of certain securities by, change capital structure requirements of, and revise certain rules relative to business development companies (see S. 2324), S300 [18JA]

——— clarify definition and regulation of digital tokens and tax treatment of virtual currency (see H.R. 7356), H10509 [20DE]

——— provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty (see H.R. 4738), H18 [8JA]

——— study the 10 per centum threshold limitation applicable to the definition of a diversified company (see H.R. 6319), H6040 [10JY]

Remarks in House

SEC: expand investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company, H4343 [22MY]

——— study the 10 per centum threshold limitation applicable to the definition of a diversified company, H6309 [17JY]

Reports filed

Expanding Investment in Small Businesses Act: Committee on Financial Services (House) (H.R. 6319) (H. Rept. 115–878), H7734 [31JY]

Mutual Fund Litigation Reform Act: Committee on Financial Services (House) (H.R. 4738) (H. Rept. 115–662), H3781 [7MY]

Small Business Credit Availability Act: Committee on Financial Services (House) (H.R. 4267) (H. Rept. 115–646), H3505 [24AP]