Closed-End Fund Activism Update - Activist investors continue to take large positions in closed-end funds and engage in disruptive activity that may be harmful to.
On May 3, 2023, the Securities and Exchange Commission ("SEC") adopted amendments to its existing rules regarding disclosures about purchases of an issuer's equity securities.
On May 3, 2023, the Securities and Exchange Commission adopted amendments to modernize the disclosure requirements relating to repurchases of an issuer’s equity securities. The.
To prepare for compliance with the new disclosure rules, issuers should evaluate directors and officers trade policies while a repurchase program is in effect and document the rationale for their repurchases and the process employed to determine the amount of repurchases.