The SEC on August 4, 2026, adopted technical amendments to its investment company governance rules to update federal regulations and reflect a federal court decision that vacated certain fund governance requirements adopted in 2004.

The commission revised Rule 0-1(a)(7) under the Investment Company Act of 1940 and updated the Code of Federal Regulations to reflect the legal effect of a court ruling that eliminated two governance provisions affecting registered investment companies and business development companies, collectively referred to as regulated funds, according to Release No. IC-36282, Investment Company Governance Technical Amendments.

The SEC said the court’s vacatur took effect on July 6, 2006, and restored the governance standards that were in place before the 2004 amendments. The technical amendments remove references in the regulations to the vacated requirements and reinstate the prior standard that a majority of a fund’s directors be disinterested directors.

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