Impact Of The Revised 'Passive Business Rule' On SBICs

Law360, New York (December 5, 2014, 10:07 AM EST) -- On Oct. 21, 2014, the U.S. Small Business Administration announced its revisions to the regulations governing small business investment company (SBIC) investments in "passive businesses" (the "Passive Business Rule"). After years of debate among SBICs, professionals and lawmakers regarding the practical impact of the Passive Business Rule, the revised regulations address a number of the issues discussed over the years, while leaving certain others open for future debate....

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