Securities and Exchange Commission Adopts Final Fund of Funds Rule

On October 7, 2020, the Securities and Exchange Commission (SEC) adopted Rule 12d1-4 and other amendments under the Investment Company Act of 1940, as amended, which streamline and enhance the regulatory requirements for registered investment companies and business development companies to acquire shares of other funds in excess of the limits in Section 12(d)(1) of the 1940 Act.

Antitrust Agency Turf War Over Big Tech Investigations

Temple Law alumnus Carl Hittinger discusses the positions of the Federal Trade Commission and the Department of Justice as calls for antitrust investigations into “Big Tech” companies escalate. The agencies, which share civil antitrust enforcement authority, reportedly are tussling over the right to investigate social media, online retail, search engine, and app store companies, raising the possibility of wasted resources, duplicative investigations, inconsistent positions, and confusion.