Alert December 30, 2008

Reminder: Beginning January 1, 2009 Electronic Submission Mandatory for Applications for Exemptive Relief under Investment Company Act and Filings under Regulation E

As discussed in the November 4, 2008 Alert, beginning January 1, 2009 all applications for orders under any section of the Investment Company Act of 1940, as amended (the “1940 Act”), and all filings pursuant to Regulation E under the Securities Act of 1933, as amended, made by small business investment companies and business development companies, must be submitted to the SEC electronically.  The new electronic filing requirements will apply to newly filed applications for orders under the 1940 Act and to amendments to applications previously filed in paper form.