S.1808 — the Access to Small Business Investor Capital Act — is an early-stage bill that would exempt BDC investment fees from registered fund fee disclosure calculations. If enacted, this regulatory adjustment removes a structural disincentive for mutual funds and ETFs to own BDC shares, potentially driving institutional demand across the sector. The bill is currently in committee with 16 cosponsors, requiring passage through both chambers and SEC rule implementation.
→ Reduces reported fee ratios for funds that invest in BDCs, making BDC shares more attractive to institutional fund managers who previously avoided them due to fee disclosure disincentives
S1808