The Securities and Exchange Commission (SEC) has announced a notice regarding an application for exemptions from certain provisions of the Investment Company Act of 1940. The applicants, Strategas Securities, LLC and Strategas Trust, seek permission for unit investment trusts (UITs) to impose deferred sales charges and offer exchange and rollover options to unitholders, among other requests. They also ask for relief from requirements related to net worth and capital gains distributions, arguing it's necessary to facilitate their investment strategies. Interested parties may request a hearing on the matter by March 15, 2021.
Simple Explanation
The SEC is looking at letting two companies, Strategas Securities, LLC and Strategas Trust, change some rules so they can handle money in a special way and charge fees differently. People can ask questions or say what they think before March 15, 2021.