The Securities and Exchange Commission (SEC) has received an application related to the Investment Company Act of 1940. This application seeks permission for certain business development companies and investment companies to jointly invest in portfolio companies alongside affiliated entities. The request necessitates an order exempting these joint transactions, which are typically restricted under current regulations. The public can request a hearing on this matter by reaching out to the SEC's Secretary by February 24, 2025.
Simple Explanation
The SEC is looking at a plan where certain companies want to work together and share their money with friends, but they need special permission to do it. People can say how they feel about this plan by telling the SEC before February 24, 2025.