• Choice 2.0 and Its Impact on Business Development Companies
  • August 2, 2017 | Authors: Cynthia R. Beyea; Stephani M. Hildebrandt; Steven B. Boehm; Harry S. Pangas; Cynthia M. Krus; Dwaune L. Dupree
  • Law Firm: Eversheds Sutherland (US) LLP - Washington Office
  • In April 2017, the full text of an updated version of the CHOICE Act (CHOICE 2.0) was released followed by a hearing on its contents. On June 8, 2017, the House Financial Services Committee released the draft of CHOICE 2.0, a version of which passed the House on June 8, 2017, as HR 10 (Rep. No. 115-153) (House CHOICE Bill). Included in CHOICE 2.0 and the House CHOICE Bill are various changes to regulations under the Investment Company Act of 1940, as amended (the 1940 Act), the Securities Act of 1933, as amended (the Securities Act), and the Securities Exchange Act of 1934, as amended (the Exchange Act), that could impact business development companies (BDCs).