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SEC Form N-17D-1

SEC Form N-17D-1
InvestingLaws and RegulationsSECSec and Regulatory Bodies

What Is SEC Form N-17D-1?

SEC Form N-17D-1 is a form that must be recorded with the Securities and Exchange Commission (SEC) by a small business investment company (SBIC) and by a bank that is affiliated with the SBIC. The form must be documented by a SBIC licensed under the Investment Company Act of 1940, and its affiliated bank.

Understanding Form N-17D-1

SEC Form N-17D-1 is required under rule 17D-1 of the Investment Company Act of 1940. It must be documented semiannually within 30 days after the end of the six-month period in which one of the following events happens: investment in a small business concern, or disposition, default, modification or extension of any investment of the SBIC. The SEC purposes the information to collect subtleties of transactions by SBICs and their affiliated banks.

Filling Out Form N-17D-1

Part I of Form N-17D-1 states: "In the event that the SBIC and a bank which is an affiliated person of either the SBIC, or an affiliated person of the SBIC, have made investments in a small business concern contemporaneously, or on the other hand if either the SBIC or such bank has made an investment in the small business concern when there was an existing investment in such small business concern by the other, set forward with respect to the investments in each such concern by the SBIC and the bank the following information:"

  • The name and address of the small business concern in which investments were made and the nature of its business.
  • The name and address of the bank which made an investment in the small business concern and the basis of the affiliation of such bank with the SBIC.
  • A description, as of the date each such SBIC or bank investment in the small business concern was made during the reporting period.
  • The utilization or proposed use by the small business concern of the proceeds of the respective investments made during the period.
  • In the event that the SBIC made an investment contemporaneous with or subsequent to an investment by the bank.
  • Subtleties concerning any interest in the transactions, and regarding any contracts, rights or different benefits received or to be received in connection with the transaction

Part II of Form N-17D-1 states: "On the off chance that the SBIC discarded an investment, or there was a default in the payment of interest or principal, or an extension or modification of the terms of any investment of the SBIC or affiliate, the following information:"

  • Identify the investment, and state whether there was involved a disposition, a default by the issuer in the payment of interest or principal, or an extension or modification of the terms of the investment, and give full subtleties thereof.
  • On the off chance that there was a disposition of the investment, state the amount of profit or loss realized.
  • On the off chance that a loss was sustained, a default happened, or the terms of the investment were extended or modified, portray the circumstances which came about therein.

Features

  • SEC Form N-17D-1 is a report that must be recorded in the event that a small business investment company (SBIC) or affiliate banks makes an investment.
  • It must likewise be recorded when a SBIC or affiliate discards an investment or defaults on it.
  • The Form is required under the Investment Company Act of 1940 and the Small Business Investment Act of 1950.