Closed-End Fund Offering Reform: The Short-Form Registration Process (Volume 53, Number 19–November 11, 2020)
Author: Nathan Briggs.; Timothy Parrington.
Source: Volume 53, Number 19, November 1 2020 , pp.227-238(12)
Abstract:
The SEC has at last adopted final rules for reforming offering processes for closed-end funds. The authors discuss the new rules in detail, focusing on the short-form registration process and the new shareholder report disclosure. They conclude that the offering reform will make it more cost-efficient for closed-end funds to file and maintain effective shelf registration statements to conduct a variety of equity offerings without delay.Keywords: Offering Environment; Short-Form N-2; Well-Known Seasoned Issuers (“WKSIs”)
Affiliations:
1: Ropes & Gray LLP; 2: Ropes & Gray LLP.