David Blass, Rajib Chanda and Nicholas Ridley Co-Author Article in The Investment Lawyer on the Need for a New Investment Company Status Exemptive Rule
Corporate Partners David Blass and Rajib Chanda, and Corporate Associate Nicholas Ridley, co-authored an article in The Investment Lawyer titled “A New Investment Company Status Exemptive Rule Could Provide a Boost to US Capital Markets Activity.” The article proposes that the SEC consider adopting a new exemptive rule under the Investment Company Act of 1940 that would allow operating companies that meet certain conditions to avoid being deemed “investment companies” if they fail the statute’s rigid tests. The proposal would involve the SEC codifying certain aspects of exemptive orders previously granted to operating companies, thereby allowing other similarly situated companies to enjoy similar relief.