The Securities and Exchange Commission (SEC) has published a notice about an application from the Coatue CTEK Fund and Coatue Management, L.L.C. These applicants are seeking an order to allow certain registered closed-end investment companies to issue multiple classes of shares, along with imposing asset-based fees and early withdrawal charges. If no hearing is requested by January 7, 2025, the SEC is set to grant the requested exemptions. Interested parties are given details on how to apply for a hearing if they wish to contest the application.
Simple Explanation
The SEC is thinking about giving permission to some companies to sell different types of shares like different flavors of ice cream. If no one says "I don't like this" by a certain date, they're going to allow it.