In the Margins

Bill would extend '40 Act to Puerto Rico

September 25, 2015

By The New York Times

A bill expected to be introduced by Rep. Nydia M. Velázquez (D-N.Y.) would amend the Investment Company Act of 1940 to give mutual fund investors in Puerto Rico the same regulatory protection their counterparts in the United States have. When the '40 Act was enacted 75 years ago, the U.S. territory was deemed too far off the beaten track to merit scrutiny. Read the original story in The New York Times. 

 

 

 

 

Most Read

10 Things
10 Things...to know about BDCs

Congress created business development companies in 1980 to support job growth and help emerging companies raise funds. As of 2023, there were 139 BDCs with $312 ...

Top of the Agenda - Succession
Vanguard nominates two, as two hit retirement

The Vanguard board expects to add two new independent directors in early 2025 to fill seats that will be vacated when two long-serving independents retire. The ...