November 19, 2025
What Happened?
Earlier this year, the SEC extended the compliance date of the Investment Company Names Rule (the “names rule”), a move that affects all registered investment companies, BDCs, current and prospective fund investors. The new compliance dates are as follows:
These extensions are intended to allow multiple parties, ranging from compliance to legal to portfolio management and more, to coordinate any changes that may be required to meet the names rule amendments. This might include adopting appropriate policies and procedures; establishing additional recordkeeping requirements; or changing any fund names and strategies that require board or shareholder approval.
The names rule is aimed at modernizing and improving the protections that the rule provides by addressing the names of registered investment companies and business development companies that the SEC defines as “materially misleading or deceptive.” Under the rule, funds are required to adopt a policy to invest at least 80% of the value of their assets that align with the investment focus that the fund’s name suggests. The SEC’s Division of Investment Management also posted a names rule FAQ earlier this year.
What does this mean for me?
Although several compliance dates and proposal rules have been postponed or tossed under the new administration, this rule seems unlikely to be extended again, as suggested during a panel at the ICI Tax and Accounting Conference in October. Covered entities should anticipate the 2026 compliance dates. FilePoint supports mutual funds, ETFs, and other investment companies with all required SEC filings and disclosures. If you have any questions or need assistance, let us know, and a member of our team will be in touch soon.
