Search Results for keywords:"investment funds"

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Search Results: keywords:"investment funds"

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  • 2020-29155 — Proposed Collection; Comment Request
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    Type:Notice
    Citation:86 FR 354
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) is inviting comments on the information collection requirements related to Rule 498, as outlined by the Paperwork Reduction Act. Rule 498 allows investment funds to use a Summary Prospectus for delivering key information about fund investments, while the full statutory prospectus is available online. The SEC estimates that about 10,536 funds are using this Summary Prospectus, with a total annual burden of approximately 15,804 hours and cost burden of around $190 million. Comments can help improve these processes and must be submitted within 60 days.

    Simple Explanation

    The Securities and Exchange Commission wants to hear what people think about a rule that lets investment funds share short summaries of their information to save time and paper. They're trying to figure out how much work and money this saves, but some people think they should explain their numbers better and find easier ways for others to help them save even more.

  • 2024-29305 — Submission for OMB Review; Comment Request; Extension: Rule 20a-1
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    Type:Notice
    Citation:89 FR 101080
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) has submitted a request to the Office of Management and Budget to extend the collection of information under Rule 20a-1 of the Investment Company Act of 1940. This rule requires investment funds to comply with specific regulations when soliciting proxies, consents, and authorizations related to their securities, ensuring that investors receive the necessary information to make informed voting decisions. Around 1,129 proxy statements from funds are filed annually, with an estimated 85 hours required for each filing, totaling about 95,965 hours annually. The public comment period for this request runs from December 16, 2024, to January 13, 2025.

    Simple Explanation

    The SEC wants to keep checking how investment funds ask people to vote about their money, making sure they get the right information. They plan to discuss this until January 13, 2025, and they think it takes about 85 hours for funds to prepare this information each year.

  • 2025-01934 — Proposed Collection; Comment Request; Extension: Rule 12b-1
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    Type:Notice
    Citation:90 FR 8545
    Reading Time:about 6 minutes

    The Securities and Exchange Commission (SEC) is seeking public comments on its plan to extend the information collection required under Rule 12b-1. This rule allows investment funds to cover costs related to distributing their shares if certain conditions are met. It mandates funds to have a written plan approved by directors and shareholders, and to maintain records for oversight. The rule aims to protect investors by ensuring funds are transparent about their distribution expenses. Comments on the necessity, burden, and improvement of this information collection are invited by March 31, 2025.

    Simple Explanation

    The SEC wants to know what people think about how investment funds tell others about their selling costs, and they're asking for ideas on how to make this process better, more accurate, and easier to understand. They're also trying to make sure these funds keep important paperwork for a long time so investors can trust them.

  • 2021-04075 — Star Mountain Credit Opportunities Fund, LP, et al.
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    Type:Notice
    Citation:86 FR 12040
    Reading Time:about 26 minutes

    The Securities and Exchange Commission (SEC) has received an application for an order under sections of the Investment Company Act of 1940. The application seeks to allow certain business development companies and investment funds to make investments together, which would normally be restricted by law. The goal is to let these companies co-invest in small and medium-sized businesses, maximizing investment opportunities without unfair advantages. The SEC will issue the order unless a hearing is requested by March 22, 2021.

    Simple Explanation

    The SEC is looking at a request to let certain companies work together to put their money into small businesses, kind of like sharing toys instead of playing alone. They'll say yes unless someone speaks up by March 22, 2021.