Investment Company Names

Document 2023-20793 is a Final Rule published by the Securities and Exchange Commission in the Federal Register on October 11, 2023, with an effective date of December 11, 2023. The Securities and Exchange Commission ("Commission") is amending the rule under the Investment Company Act of 1940 ("Investment Company Act" or "Act") that addresses certain broad categories of investment company names that are likely to mislead investors about an investment company's investments and risks. The amendments to this rule are designed to increase investor protection by improving, and broadening the scope of, the requirement for certain funds to adopt a policy to invest at least 80 percent of the value of their assets in accordance with the investment focus that the fund's name suggests, updating the rule's notice requirements, and establishing recordkeeping requirements. The Commission is also adopting enhanced prospectus disclosure requirements for terminology used in fund names, and additional requirements for funds to report information on Form N-PORT regarding compliance with the names-related regulatory requirements. View the original at https://www.federalregister.gov/documents/2023/10/11/2023-20793/investment-company-names.

No. Document 2023-20793 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.