Search Results for keywords:"Investment Company Act"

The Securities and Exchange Commission (SEC) has issued a notice regarding an application for an order under the Investment Company Act. The application seeks permission for certain business development companies and closed-end management investment companies to engage in joint investments with affiliated investment entities, which would otherwise be restricted by the Act. The applicants involve a large number of entities connected to BlackRock, requesting the SEC to allow them to co-invest in various portfolio companies. The notice also provides procedural details for requesting a hearing on the matter, if interested parties, by emailing the SEC and providing proof of service to the applicants.

The Securities and Exchange Commission (SEC) is considering an application from Fidelity Covington Trust and others to amend a prior order, allowing certain funds to expand their investment options beyond what's currently permitted. The proposal suggests that these funds be able to invest in additional securities, such as fixed income and foreign investments, while adhering to new disclosure requirements to ensure transparency. The application argues that the flexibility in investments would not lead to confusion among investors and wouldn't negatively affect the fund's performance or operations. If granted, the new order would continue to meet the regulatory standards needed for exemption under various sections of the Investment Company Act.

The Securities and Exchange Commission (SEC) has issued a notice about an application submitted by North Haven Private Income Fund LLC and related entities. These companies have requested permission to issue multiple classes of shares with different sales charges and distribution fees. The SEC will issue an order to grant this request unless someone requests a hearing. Hearing requests must be submitted to the SEC by April 14, 2025, and should explain why the hearing is necessary.

The Securities and Exchange Commission is reviewing a proposed amendment to allow the Cboe BZX Exchange, Inc. to list and trade a new type of security known as Multi-Class ETF Shares. This rule change involves setting standards for these securities that don't require prior approval from the Commission, as long as they meet certain requirements under the Investment Company Act. The goal is to facilitate more efficient trading and potential benefits for investors. The Commission is seeking public comments on this proposed rule change.

The Securities and Exchange Commission (SEC) is asking for an extension of the approval for collecting certain information under Rule 17f-4, which is part of the Investment Company Act. This rule involves how investment funds and their custodians manage their securities using systems known as securities depositories. The SEC estimates the ongoing efforts of 639 entities, including funds and custodians, result in a total annual burden of 3,148 hours. The Commission is seeking public comments on this information collection, such as its necessity and ways to improve it, before the submission deadline on March 31, 2025.