SEC Proposed Rule and Amendment: Use of Derivatives

At a December 11, open meeting the Securities and Exchange Commission (SEC) voted 3 to 1 to “propose a new rule and amendment to certain proposed forms related to the use of derivatives by registered investment companies and business development companies (BDCs)” (Item 1); and voted 3 to 1 to approve “proposed rules to require disclosure of certain payments made to governments by resource extraction issuers, as mandated by Section 1504 of the Dodd-Frank Act (DFA).” (Item 2). Commissioner Michael Piwowar dissented from both.

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