summary
Introduced
04/13/2023
04/13/2023
In Committee
05/24/2023
05/24/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds, and for other purposes.
AI Summary
This bill, the Increasing Investor Opportunities Act, aims to amend the Investment Company Act of 1940 to prohibit the Securities and Exchange Commission (SEC) from limiting or restricting closed-end investment companies (also known as closed-end funds) from investing in private funds. The bill clarifies that the SEC cannot impose conditions or restrictions on the offering, sale, or listing of securities issued by closed-end funds that invest in private funds, unless the restrictions are unrelated to the characteristics of the private funds. The bill also expands the definition of "private fund" to align with the Investment Advisers Act of 1940 and prohibits national securities exchanges from restricting the listing or trading of securities of closed-end funds that invest in private funds.
Committee Categories
Business and Industry
Sponsors (5)
Last Action
Placed on the Union Calendar, Calendar No. 252. (on 12/12/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/2627/all-info |
| BillText | https://www.congress.gov/118/bills/hr2627/BILLS-118hr2627rh.pdf |
| BillText | https://www.congress.gov/118/bills/hr2627/BILLS-118hr2627ih.pdf |
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