On March 20th, the SEC proposed rule amendments that would implement certain provisions of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act. These amendments would improve access to capital and facilitate investor communications by business development companies and registered closed-end funds. Business-development companies (BDCs) are closed-end funds established by Congress that primarily invest in small and developing companies. Building on offering practices already in use by operating companies, the proposed amendments would modify the registration, communications, and offering processes available to BDCs and registered closed-end funds to be more streamlined and cost efficient in selling securities in response to market opportunities. Continue reading "SEC Proposes Offering Reforms for Business..." »