Small Business Investment Company (SBIC) Regulatory Amendments

The U.S. Small Business Administration ("SBA" or "Agency") is proposing to modify or remove from the Code of Federal Regulations ("CFR") regulations that are obsolete, inefficient, or otherwise unnecessarily impede the licensing of small business investment companies ("SBICs"). Many of the regulations SBA is proposing to remove apply to the repealed Section 301(d) of the Small Business Investment Act of 1958, as amended, and certain other types of SBICs that SBA no longer licenses, such as Participating Securities SBICs and Early Stage SBICs. The removal of these regulations will assist the public by simplifying SBA's regulations in the CFR. In addition, SBA is proposing to amend its regulations applicable to subsequent fund applicants in order to streamline the licensing process for such applicants. SBA also seeks to remove certain barriers to investments in critical mineral extraction and processing and designated critical technologies. In accordance with 5 U.S.C. 553(b)(4), a summary of this rule may be found https://www.regulations.gov.