S. 4890, introduced by Mr. Daines, seeks to modify how registered investment companies report certain fees. Specifically, the bill allows these companies to exclude fees and expenses incurred through investments in business development companies from their acquired fund fees...
Simple Explanation
Imagine a rule that helps companies manage money by making it simpler to share how much they spend. This bill helps by letting them leave out a particular kind of fee when they tell everyone their costs, so they explain it in a special note instead.