Access to Small Business Investor Capital Act

Key Points

• Allows mutual funds and similar investment funds to leave out some fees when they invest through business development companies.
• This changes what shows up in the “fees and expenses” part of fund paperwork investors may see when comparing funds.
• Supporters may argue it makes fund fee disclosures clearer for certain investments tied to small-business financing; critics may worry it hides real costs.
• If you invest in a fund that puts money into these small-business-lending companies, the listed fee number could look lower even if costs still exist.
• The Securities and Exchange Commission would still oversee the registration forms, but Congress would be setting this specific disclosure rule.

Impact Analysis

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Votes

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