summary
Introduced
11/19/2020
11/19/2020
In Committee
11/19/2020
11/19/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
Allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase their investments in private investment funds.
AI Summary
This bill, the Increasing Investor Opportunities Act, amends the Investment Company Act of 1940 to prohibit the Securities and Exchange Commission (SEC) from limiting closed-end investment funds (which are portfolios of pooled assets traded on an exchange) from investing in private investment funds. The bill also defines "private fund" for the purposes of the Investment Company Act and the Investment Advisers Act, and requires national securities exchanges to allow the listing and trading of securities of closed-end funds that invest in private funds. The amendments take effect after a 2-year period or at an earlier date determined necessary by the SEC.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 11/19/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/8786/all-info | 11/20/2020 |
| BillText | https://www.congress.gov/116/bills/hr8786/BILLS-116hr8786ih.pdf | 12/01/2020 |
| Bill | https://www.congress.gov/116/bills/hr8786/BILLS-116hr8786ih.pdf.pdf | 12/01/2020 |
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