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

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

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  • 2021-04075 — Star Mountain Credit Opportunities Fund, LP, et al.
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    Type:Notice
    Citation:86 FR 12040
    Reading Time:about 26 minutes

    The Securities and Exchange Commission (SEC) has received an application for an order under sections of the Investment Company Act of 1940. The application seeks to allow certain business development companies and investment funds to make investments together, which would normally be restricted by law. The goal is to let these companies co-invest in small and medium-sized businesses, maximizing investment opportunities without unfair advantages. The SEC will issue the order unless a hearing is requested by March 22, 2021.

    Simple Explanation

    The SEC is looking at a request to let certain companies work together to put their money into small businesses, kind of like sharing toys instead of playing alone. They'll say yes unless someone speaks up by March 22, 2021.

  • 2021-02269 — Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
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    Type:Notice
    Citation:86 FR 8242
    Reading Time:about 4 minutes

    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.

    Simple Explanation

    The Securities and Exchange Commission is looking at requests from some investment companies that want to stop being investment companies because they’ve closed down and given out their money to people. Sometimes they had to spend money to close down, and other times their helpers paid for it.

  • 2021-03455 — Strategas Trust and Strategas Securities, LLC
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    Type:Notice
    Citation:86 FR 10606
    Reading Time:about 13 minutes

    The Securities and Exchange Commission (SEC) has announced a notice regarding an application for exemptions from certain provisions of the Investment Company Act of 1940. The applicants, Strategas Securities, LLC and Strategas Trust, seek permission for unit investment trusts (UITs) to impose deferred sales charges and offer exchange and rollover options to unitholders, among other requests. They also ask for relief from requirements related to net worth and capital gains distributions, arguing it's necessary to facilitate their investment strategies. Interested parties may request a hearing on the matter by March 15, 2021.

    Simple Explanation

    The SEC is looking at letting two companies, Strategas Securities, LLC and Strategas Trust, change some rules so they can handle money in a special way and charge fees differently. People can ask questions or say what they think before March 15, 2021.

  • 2020-29013 — Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
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    Type:Notice
    Citation:86 FR 157
    Reading Time:about a minute or two

    The Securities and Exchange Commission (SEC) published a notice regarding two applicants, Premier Multi-Series VIT and SEI Insurance Products Trust, seeking orders to stop being classified as investment companies. Premier Multi-Series VIT made a final distribution to its shareholders on April 22, 2020, and incurred expenses of roughly $97,923 in this process. SEI Insurance Products Trust completed a similar process on September 28, 2020, costing around $21,512. Both companies filed official applications in 2020 to formalize their requests with the SEC.

    Simple Explanation

    The Securities and Exchange Commission (SEC) is sharing that two companies want to stop being called "investment companies" because they gave the money back to the people who put money in and then closed. They paid a lot of money to do this, but it's not clear why or how it was decided.

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