Category: Articles & Publications

SEC Proposal May Foretell Valuation Enforcement Focus

George Talarico, General Counsel and Director for Alaric Compliance Services, authored a guest post for Law360. Read the introduction and download the entire article in the attached PDF file.

For the first time since Apollo 13 safely splashed down, the U.S. Securities and Exchange Commission seeks to comprehensively update valuation practice under the Investment Company Act of 1940.[1] On April 21, the commission proposed a new Rule 2a-5 under the Investment
Company Act.[2] Proposed Rule 2a-5 details the requirements for the determination of registered investment companies’ and business development companies’ fair value in good faith[3] and focuses on: (1) valuation procedures; and (2) the role of the funds’ board of directors in the determination of the fair value of the funds’ investments.

 

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