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.
Simple Explanation
The SEC is deciding whether some companies can stop following certain rules because they no longer run the special type of business they did before, like when you stop going to school because you've finished. These companies have given their stuff to other companies, kind of like sharing toys, and some helpers paid for the costs to do this.