MFA sends letter to United States Senate on the advancement of capital formation legislation

MFA submitted a letter to the United States Senate Committee on Banking, Housing, and Urban Affairs to encourage the advancement of capital formation and markets.

MFA made the following suggestions to the Committee:

• E-Delivery- The Improving Disclosure for Investors Act requires an SEC rulemaking to allow electronic delivery of investor documents, with safeguards, opt-out rights, and transition rules.
• Creating parity for 403(b) plans- The Retirement Fairness for Charities and Educational Institutions Act of 2025 amends securities laws to expand investment options for 403(b) retirement plans.
• Closed-end funds- The Increasing Investor Opportunities Act expands closed-end investment companies' ability to invest in private funds and adds protections from abuses by predatory activist investors.
• Expanding EGC offering communications- The Encouraging Public Offerings Act of 2025 allows all issuers of public securities to take advantage of the testing the waters and confidential draft registration submission provisions of the JOBS Act, encouraging more companies to go public without sacrificing investor protection.
• Business Development Company updates- The Access to Small Business Investor Capital Act allows investment funds to provide more accurate fee and expense information by omitting potentially misleading fee and expense disclosure relating to investments in BDCs.
• Expanding WKSI Eligibility- The Expanding WKSI Eligibility Act updates the WKSI definition and expands the universe of eligible users, increasing flexibility in registration and investor communications.
• Senior Security- The Senior Security Act of 2025 creates a Senior Investor Task Force at the SEC, reinforcing senior investor protection.