Search Results for keywords:"deregistration"

The Securities and Exchange Commission is considering applications from several investment companies seeking to deregister under the Investment Company Act of 1940 as they have stopped operations. These companies have either distributed their assets or transferred them to other funds, with some incurring liquidation or reorganization expenses, often covered by investment advisers or related parties. Various applications were filed or amended in 2020 and 2021, with the companies seeking orders to cease being recognized as investment companies. Some entities, like American Independence Funds Trust and Boston Income Portfolio, have requested official deregistration following the liquidation of their assets.

The Securities and Exchange Commission (SEC) has submitted a request to the Office of Management and Budget for an extension to continue using Form N-8F, which investment companies use to request deregistration. The form asks for information about the company's identity, finances, and reasons for deregistration, taking about 5.2 hours to complete. Approximately 101 investment companies file this form annually, resulting in a total of around 525 hours of effort each year. The public can comment on this request from December 4, 2024, to January 3, 2025.

The Securities and Exchange Commission (SEC) has announced a notice concerning applications for deregistration under Section 8(f) of the Investment Company Act of 1940 for November 2024. Several companies have applied for deregistration, seeking orders to no longer be considered investment companies after transferring or liquidating assets. Notable names include Aquila Municipal Trust, BCM Focus Funds, Cohen & Steers Alternative Income Fund, Inc., Cook & Bynum Funds Trust, and GL Beyond Income Fund. These applicants have completed financial transactions and distributions, and expenses were generally covered by the investment advisers of the acquiring or liquidating entities.

The Securities and Exchange Commission (SEC) is announcing a notice regarding applications for deregistration under Section 8(f) of the Investment Company Act of 1940, specifically for February 2025. A unit investment trust, named FSL Separate Account M, has applied for an order declaring that it is no longer an investment company, as it currently has 96 beneficial owners and does not offer or plan to offer securities. The filing for this application was made on July 1, 2024, and the applicant operates as a private investment fund under section 3(c)(1) of the Act. Public comments or hearing requests can be submitted until March 25, 2025.