FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. · ¶32

Given the textual differences between Section 47(b) and Section 215, TAMA does not get Saba far. And to be clear, Saba would take TAMA far indeed. TAMA blesses only a “limited private remedy . . . to void an investment advisers contract.” 444 U. S., at 24 (emphasis added). Saba finds something much larger hiding in congressional silence: It would wield Section 47(b) to void any type of contract that violates the ICA. TAMA is thin support for such a sweeping right.

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