U.S. Small Business Administration Proposes Revision to Rule on Small Business Investment Companies' Conflicts of Interest and Idle Funds

Summary

The U.S. Small Business Administration is proposing to revise a rule that prohibits small business investment companies (SBICs) from providing financing to associates unless they obtain a conflict of interest exemption from the SBA. The revision aims to align the public notice requirement with statutory requirements, expand SBICs' permitted investments with idle funds, and eliminate outdated provisions.