Increasing Investor Opportunities Act

This bill changes federal securities law for closed-end investment companies, a type of fund whose shares are sold to the public. It would bar the Securities and Exchange Commission (SEC) from prohibiting or limiting these funds from investing some or all of their assets in private funds, and from restricting the sale or stock-exchange listing of their shares because of those investments. The SEC could still set limits that are unrelated to the features or status of private funds. Stock exchanges also could not block or restrict the listing or trading of these funds' shares because they invest in private funds. The bill states that it does not change fiduciary duties or the valuation, liquidity, or redemption rules that already apply to these funds.

Full text and official record on Congress.gov

Sponsors

• Steve Daines Republican sponsor
• 2 cosponsors