Search Results for keywords:"Investment Company Act of 1940"

The Securities and Exchange Commission (SEC) has issued a notice regarding an application under specific sections of the Investment Company Act of 1940. The application seeks permission for TCW Direct Lending VII LLC and its affiliates to carry out an exchange offer, allowing investors to swap their investment units for shares in a related fund called the Extension Fund. This exchange would also involve transferring a proportional share of the company's assets and liabilities to the Extension Fund. A hearing may be requested by interested parties by emailing the Commission by a specified deadline.

The Securities and Exchange Commission (SEC) has released a notice regarding an application for exemption requested by Jefferies Credit Management LLC and Jefferies Credit Partners BDC Inc. The applicants seek permission to allow certain registered closed-end investment companies to issue multiple classes of shares with different sales loads and fees. This notice provides information on how individuals can request a hearing regarding the application. Any hearing requests must be submitted to the SEC by April 8, 2025.

The Securities and Exchange Commission (SEC) is requesting public comments on the necessity and efficiency of the information collected through Form N-8A, which investment companies use to register under the Investment Company Act of 1940. This form is critical for the SEC's oversight and involves a modest annual time and cost burden on companies. The commission is particularly interested in opinions on the relevance of the information collected, as well as suggestions for reducing the burden of submission through technology. Comments are open until February 10, 2025.

The New York Stock Exchange (NYSE) proposed a rule change to the Securities and Exchange Commission (SEC) to exempt closed-end funds from holding annual shareholder meetings. This rule alteration was initially filed on June 21, 2024, and published for public comment on July 9, 2024. However, on January 31, 2025, the NYSE decided to withdraw this proposed rule change. The SEC had been considering whether to approve or disapprove the proposal before its withdrawal.

The Securities and Exchange Commission has announced a notice regarding an application submitted by Hamilton Lane Private Assets Fund and others. The applicants are seeking permission for certain investment companies to make joint investments with affiliated funds, which would otherwise be prohibited under existing regulations. They aim to allow a closed-end management investment company to invest in portfolio companies alongside related investment funds. The application includes various conditions to ensure that such investments are fair and equitable for all parties involved.

The Securities and Exchange Commission (SEC) has announced a notice of applications for deregistration under Section 8(f) of the Investment Company Act of 1940 for January 2025. Various investment companies, including American Maturity Life Insurance Co Separate Account One and Aquila Funds Trust, have applied to cease being classified as investment companies. Some applicants, like Aquila Funds Trust and DriveWealth ETF Trust, have already distributed funds to shareholders and covered expenses through their advisers. Individuals can request a hearing on these applications by February 25, 2025, by contacting the SEC.

The Securities and Exchange Commission issued a temporary order and notice regarding an application from The Toronto-Dominion Bank and others for exemption from certain provisions of the Investment Company Act due to guilty pleas by TD Bank US Holding Company and TD Bank, N.A., related to anti-money laundering failures. The application seeks to exempt Epoch Investment Partners and other affiliated entities from disqualification rules that would negatively impact their ability to provide investment services to funds. The applicants argue that the misconduct was limited to certain entities and didn't involve Epoch, and they have taken steps to improve compliance practices. The temporary order allows them to continue services until a decision on a permanent order is made.

The Securities and Exchange Commission (SEC) announced a notification about an application from Barings LLC and Barings Private Credit Corporation. They seek an order that would allow certain investment companies to issue different classes of shares with varying sales loads and fees. The application was initially filed on February 4, 2025, and later amended on March 14, 2025. Interested parties have until April 14, 2025, to request a hearing if they have concerns or objections regarding this application.

The Securities and Exchange Commission (SEC) published a notice about an application by Goldman Sachs Private Credit Corp. and Goldman Sachs Asset Management, L.P. The applicants are seeking an exemption from certain sections of the Investment Company Act of 1940 to allow certain registered closed-end investment companies to issue different classes of shares with varying fees. The SEC indicates that unless a hearing is requested by April 14, 2025, an order granting the requested relief will be issued. Interested parties can find more details by accessing the applicant's amended application on the SEC's EDGAR system.

The Securities and Exchange Commission (SEC) has published a notice about an application from Columbia Credit Income Opportunities Fund and Columbia Management Investment Advisers, LLC. They are seeking permission for certain registered closed-end investment companies to issue multiple classes of shares and charge asset-based distribution and/or service fees and early withdrawal charges. The application was initially filed on December 31, 2024, and later amended on February 12, 2025. Interested individuals can request a hearing by contacting the SEC by April 8, 2025.