2019-23082: Amendments to Procedures With Respect to Applications Under the Investment Company Act of 1940
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The Securities and Exchange Commission (the "Commission") is proposing amending rule 0-5 under the Investment Company Act of 1940 ("Act") to establish an expedited review procedure for applications that are substantially identical to recent precedent as well as a new rule to establish an internal timeframe for review of applications outside of such expedited procedure. In addition, the Commission is proposing amending rule 0-5 under the Act to deem an application outside of expedited review withdrawn when the applicant does not respond in writing to comments within 120 days.
The agency’s own summary, as published.
What this changes
Amends 2 parts of the Code of Federal Regulations — the standing rules this notice rewrites.
Rulemaking docket
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