Search Results for keywords:"deregistration"

Found 2 results

Search Results: keywords:"deregistration"

View All
Oldest Newest
  • 2021-02269 — Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
    💰
    Type:Notice
    Citation:86 FR 8242
    Reading Time:about 4 minutes

    The Securities and Exchange Commission is considering applications from several investment companies seeking to deregister under the Investment Company Act of 1940 as they have stopped operations. These companies have either distributed their assets or transferred them to other funds, with some incurring liquidation or reorganization expenses, often covered by investment advisers or related parties. Various applications were filed or amended in 2020 and 2021, with the companies seeking orders to cease being recognized as investment companies. Some entities, like American Independence Funds Trust and Boston Income Portfolio, have requested official deregistration following the liquidation of their assets.

    Simple Explanation

    The Securities and Exchange Commission is looking at requests from some investment companies that want to stop being investment companies because they’ve closed down and given out their money to people. Sometimes they had to spend money to close down, and other times their helpers paid for it.

  • 2024-28425 — Deregistration Under Section 8(f) of the Investment Company Act of 1940
    💰
    Type:Notice
    Citation:89 FR 96701
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) has announced a notice concerning applications for deregistration under Section 8(f) of the Investment Company Act of 1940 for November 2024. Several companies have applied for deregistration, seeking orders to no longer be considered investment companies after transferring or liquidating assets. Notable names include Aquila Municipal Trust, BCM Focus Funds, Cohen & Steers Alternative Income Fund, Inc., Cook & Bynum Funds Trust, and GL Beyond Income Fund. These applicants have completed financial transactions and distributions, and expenses were generally covered by the investment advisers of the acquiring or liquidating entities.

    Simple Explanation

    The SEC is deciding whether some companies can stop following certain rules because they no longer run the special type of business they did before, like when you stop going to school because you've finished. These companies have given their stuff to other companies, kind of like sharing toys, and some helpers paid for the costs to do this.