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News November 8, 2004 Issue

BDCs, Anyone?

If your firm has anything to do with business development companies (BDCs), you’ll want to check out a November 1 proposal to amend the definition of eligible portfolio company for BDCs.

If not, you can safely skip it, we’re told.

The rulemaking fixes a glitch caused by the Federal Reserve Board’s 1998 amendments to the margin rules (a portion of the definition of "eligible portfolio company" for BDCs keys off those rules). There are estimated to be fewer than 100 BDCs in existence.