Bill > S1808

This bill allows registered investment companies (investment funds registered with the Securities and Exchange Commission) to exclude certain fees from their fee table disclosures, specifically those fees indirectly incurred through investments in business development companies (specialized investment vehicles that provide capital to small and medium-sized businesses). The bill provides detailed definitions for several technical terms, including "acquired fund" (a fund in which an investment company has invested), "acquired fund fees and expenses" (a specific subcaption in fee table disclosures), and various regulatory forms like Form N-1A, N-2, and N-3 that govern investment company financial reporting. By permitting the omission of these business development company-related fees from fee calculations, the bill aims to simplify and potentially make more transparent the fee reporting process for registered investment companies, potentially making such investments more attractive by reducing the apparent complexity of fee structures. The legislation amends reporting requirements under the Investment Company Act of 1940 and gives investment companies more flexibility in how they present their fee information to investors.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1808/all-info