Final Rule
Purchase of Certain Debt Securities by Business and Industrial Development Companies Relying on an Investment Company Act Exemption
Overview
The Securities and Exchange Commission ("Commission') is adopting a new rule under the Investment Company Act of 1940 ("Investment Company Act') to establish a standard of credit- worthiness in place of a statutory reference to credit ratings that the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act') removes. The rule will establish the standard of credit quality that must be met by certain debt securities purchased by entities relying on the Investment Company Act exemption for business and industrial development companies.
Prior Actions
Proposed Rule (33-9193)
Release Number
33-9193
IC-29592
SEC Issue Date
March 3, 2011
Federal Register Publish Date
March 9, 2011
Document Citation
76 FR 12896
RIN
3235-AL02
Resources
Details
File Number
S7-07-11
Rule Type
Final
Release Number
IC-30268
SEC Issue Date
Nov. 19, 2012
Effective Date
December 24, 2012
Federal Register Publish Date
Nov. 23, 2012
Document Citation
77 FR 70117
RIN
3235-AL02