The Securities and Exchange Commission (SEC) is seeking public comments on extending a rule that allows investment funds to invest in certain securities-related businesses, even though there's a general prohibition against it. This rule is important because it helps funds make investments without giving too much power to certain advisers. The SEC estimates that 49 funds will need to update their contracts each year to comply with this rule, and it will take about 3 hours for legal work, shared among similar rules. Public comments on this matter can be sent by June 17, 2025.
Simple Explanation
The SEC wants to hear what people think about a rule that lets some special groups invest in certain money-making businesses, even though it’s normally not allowed. They think about 49 groups will need to make some updates each year, and it's a bit like when you have to update a special rule book.