On March 14th, the SEC announced a six-month extension of the compliance dates for the September 2023 final rule related to the Investment Company Act “Names Rule,” the rulemaking that addresses fund names likely to mislead investors about a fund’s investments and risks.
Updated Compliance Dates
- compliance date for Larger Fund Groups is extended from December 11, 2025, to June 11, 2026
- compliance date for Smaller Fund Groups is extended from June 11, 2026, to December 11, 2026
The extension is intended to balance the investor benefit of the amended Names Rule structure with a fund’s need for additional time to apply the amendments properly, develop and finalize compliance systems, and test compliance plans. The compliance dates are aligned with the timing of certain annual disclosure and reporting requirements that are tied to the end of a fund’s fiscal year, which will help funds avoid additional costs when coming into operational compliance with the Names Rule amendments.
Sources:
SEC Extends Compliance Dates for Amendments to Investment Company Names Rule (sec.gov)
Final Rule (sec.gov)
