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.
Simple Explanation
The Securities and Exchange Commission (SEC) is telling people that some companies want to stop being special money companies, like piggy banks that grow your money, because they won't sell or do business anymore. If people want to talk about it, they need to let the SEC know by a certain date in February.