Anonymous
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Please confirm this: if the SEC grants “conditional no action relief”, in regulatorese that translates to “we will not pursue enforcement action."

Answer

Yes, the statement is correct. If the SEC grants "conditional no action relief," it means that they will not pursue enforcement action
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This type of relief is temporary and conditional, and it is granted to provide flexibility for companies to meet their urgent funding needs or to make additional investments in small and medium-sized businesses
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However, companies must meet enhanced eligibility requirements and provide clear, prominent disclosure to investors about their reliance on the relief
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The SEC grants this type of relief subject to investor protection conditions, including specific requirements for obtaining an independent evaluation of the issuances' terms and approval by a majority of a BDC's independent board members
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