To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds, and for other purposes.
Increasing Investor Opportunities Act
This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. The Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 37 - 11.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-312.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-312.
Placed on the Union Calendar, Calendar No. 252.
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