The Securities and Exchange Commission (SEC) has issued a notice regarding an application from several applicants, including HPS Advisors, LLC and related funds, for an exemption from certain sections of the Investment Company Act of 1940. The exemption would allow these registered closed-end investment companies, which are regulated as business development companies, to issue different classes of shares with various sales loads and fees. A decision on granting the requested exemption will be made unless a hearing is requested by May 12, 2025. Interested parties can request a hearing by contacting the SEC or the applicants.
Simple Explanation
The SEC is thinking about letting some companies sell different types of stock with various extra fees, and people have until May 12, 2025, to tell the SEC if they want a hearing to discuss it.