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SEC RIN: 3235-AM72 Publication ID: Spring 2023 
Title: Investment Company Names 
Abstract:

The Division is considering recommending that the Commission adopt amendments to Investment Company Act rule 35d-1, which applies to names used by registered investment companies.  The Commission proposed to amend the rule that addresses certain broad categories of investment company names that are likely to mislead investors about an investment company’s investments and risks. The proposed amendments to this rule are designed to increase investor protection by improving and clarifying the requirement for certain funds to adopt a policy to invest at least 80% of their assets in accordance with the investment focus that the fund’s name suggests, updating the rule’s notice requirements, and establishing recordkeeping requirements. The Commission also proposed enhanced prospectus disclosure requirements for terminology used in fund names, and additional requirements for funds to report information on Form N-PORT regarding compliance with the proposed names-related regulatory requirements.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 270.35d-1    17 CFR 239.15A    17 CFR 274.11A    17 CFR 239.13    17 CFR 274.11a-1    17 CFR 274.12    17 CFR 239.16    17 CFR 274.150    17 CFR 232.11    17 CFR 232.405    17 CFR 230.485    17 CFR 230.497    ...     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 15 U.S.C. 80a-8    15 U.S.C. 80a-29    15 U.S.C. 80a-30    15 U.S.C. 80a-33    15 U.S.C. 80a-34    15 U.S.C. 80a-37    15 U.S.C. 80a-58    15 U.S.C. 80a-63    15 U.S.C. 80a-18    15 U.S.C. 77e    15 U.S.C. 77f    15 U.S.C. 77g(a)    15 U.S.C. 77h    15 U.S.C. 77j    15 U.S.C. 77s(a)    15 U.S.C. 78j    15 U.S.C. 78m    15 U.S.C. 78o    15 U.S.C. 78w    15 U.S.C. 78ll    ...   
Legal Deadline:  None
Timetable:
Action Date FR Cite
ANPRM  03/06/2020  85 FR 13221   
ANPRM Comment Period End  05/05/2020 
NPRM  06/17/2022  87 FR 36594   
NPRM Comment Period End  08/16/2022 
NPRM Comment Period Reopened  10/18/2022  87 FR 63016   
NPRM Comment Period End  11/01/2022 
Final Action  10/00/2023 
Regulatory Flexibility Analysis Required: Yes  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Agency Contact:
Michael Kosoff
Division of Investment Management
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-6754
Email: kosoffm@sec.gov