MFA Comment Letter to SEC on Proposed Exemption for Investment Companies Investing in Exchange Traded Funds

MFA submitted a comment letter to the SEC on its proposed exemption for investment companies investing in Exchange Traded Funds (ETFs). The proposal would permit investment companies to invest in ETFs above the limits of section 12(d) of the Investment Company Act of 1940. MFA requested that the exemption be extended to 3(c)(1) and 3(c)(7) funds, as there is no policy rationale for distinguishing such funds from other investment companies for purposes of the proposed rule.