§80a–63 Accounts and records

Summary

Make a business development company follow the same account and record rules that apply to a registered closed-end investment company under section 80a–30, even though it normally has an exemption under section 80a–6(f). Where those rules refer to financial reports under section 80a–29, a business development company must instead use the financial reports it files under section 78m. Each business development company must file with the Securities and Exchange Commission and give its shareholders a written risk statement once a year. The statement must describe risks tied to the company’s investments and capital structure and be in the form the Commission requires. The company must give the statement to any registered broker or dealer who asks. The Commission can also require sellers to tell buyers about the risk statement at or before sale and to provide it on request, while weighing any unreasonable burdens on brokers or harm to fair markets.