The Securities and Exchange Commission (SEC) has released a notice regarding an application from SEG Partners Long/Short Equity Fund and Select Equity Group, L.P. These companies are seeking an exemption to allow them to issue multiple classes of shares, and to charge early withdrawal fees as well as asset-based distribution and service fees. The application was filed on January 6, 2025, and a decision granting this request will be made unless a hearing is requested by interested parties. The deadline for hearing requests is March 3, 2025, and more information can be found on the SEC's website.
Simple Explanation
The big people at the SEC are thinking about letting some companies try something new with their money rules, like having different kinds of stocks and charging fees if people take their money out early. If nobody asks for a big meeting to talk about it by March 3, 2025, they might say yes to this idea.