An SEC Official is Siding with Big Asset Managers That Say Hedge Funds Like Saba Capital Should Be Banned from Taking Activist Stakes in Closed-End Funds
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- The US Securities and Exchange Commission's Robert Jackson hopes to prevent the kind of closed-end fund activism that funds like Boaz Weinstein's Saba Capital have engaged in.
- Jackson, in an interview with Business Insider, said the SEC needs to protect the retail investors who choose closed-end funds for the fixed payouts the structure offers, and hopes to get the issue in front of the full commission before the end of the year.
- "I'm not interested in protecting funds...