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

The Securities and Exchange Commission (SEC) has issued a notice regarding an application for an exemption under the Investment Company Act of 1940. The application involves the Optimize Growth Equity Fund, Optimize Premium Yield Fund, and Optimize Wealth Management Inc., seeking permission for certain registered closed-end investment companies to make repurchase offers monthly. If someone wishes to contest this application or request a hearing, they must submit their request to the SEC by May 6, 2025. The application details and conditions are available through the SEC's EDGAR system.

The Securities and Exchange Commission (SEC) has published a notice regarding an application for an order under the Investment Company Act of 1940. This order would allow certain closed-end investment companies to jointly invest in portfolio companies with each other and with specific affiliated investment entities, a practice usually restricted by law. The application was submitted by companies including Meketa Capital, LLC, and amended multiple times, with the most recent amendment on February 21, 2025. A hearing may be requested by interested parties until April 7, 2025, through specific channels provided by the SEC.

The Securities and Exchange Commission (SEC) is considering an application from the ISQ Infrastructure Income Fund and I Squared Capital Registered Advisor LLC for an exemption under the Investment Company Act of 1940. The applicants seek permission for certain closed-end management investment companies and business development companies to pay investment advisory fees using shares of their common stock. If no hearing is requested, the SEC will grant the requested relief. Interested individuals can request a hearing by contacting the SEC by March 31, 2025.

The Securities and Exchange Commission (SEC) received an application from several investment companies, including Wilshire Private Assets Fund and others, for an order permitting them to co-invest in portfolio companies together with some affiliated entities. This order would allow them to engage in joint transactions that are otherwise restricted by the Investment Company Act of 1940. The application was filed through late 2024 and early 2025, with the SEC considering issuing the order unless a hearing is requested by April 21, 2025. Interested parties can request a hearing by emailing the SEC's Secretary and should provide specific reasons for their request.

The Securities and Exchange Commission has published a notice of an application for an order that would allow certain investment companies to participate in a joint lending and borrowing facility. This facility would enable participating funds to lend money directly to, and borrow money directly from one another, to cover unexpected cash shortfalls. The facility aims to offer reduced borrowing costs and enhanced returns on loaned funds, benefiting both borrowing and lending funds. The application, submitted by Symmetry Panoramic Trust and Symmetry Partners, LLC, seeks specific exemptions from various sections of the Investment Company Act of 1940 to implement this interfund lending facility.

The Securities and Exchange Commission (SEC) has released a notice regarding an application for exemption requested by Jefferies Credit Management LLC and Jefferies Credit Partners BDC Inc. The applicants seek permission to allow certain registered closed-end investment companies to issue multiple classes of shares with different sales loads and fees. This notice provides information on how individuals can request a hearing regarding the application. Any hearing requests must be submitted to the SEC by April 8, 2025.

The Securities and Exchange Commission (SEC) issued notices for deregistration applications under Section 8(f) of the Investment Company Act of 1940. Several investment companies, including BNY Mellon Municipal Bond Funds, John Hancock Tax-Advantaged Global Shareholder Yield Fund, List Income Opportunities Fund, and PREDEX, have applied to cease being investment companies. These applicants are transferring their assets to other funds and have made final distributions to shareholders. Each application contains specific details about the asset transfer, final distributions, and expenses incurred.

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.

The Securities and Exchange Commission issued a temporary order and notice regarding an application from The Toronto-Dominion Bank and others for exemption from certain provisions of the Investment Company Act due to guilty pleas by TD Bank US Holding Company and TD Bank, N.A., related to anti-money laundering failures. The application seeks to exempt Epoch Investment Partners and other affiliated entities from disqualification rules that would negatively impact their ability to provide investment services to funds. The applicants argue that the misconduct was limited to certain entities and didn't involve Epoch, and they have taken steps to improve compliance practices. The temporary order allows them to continue services until a decision on a permanent order is made.

The Securities and Exchange Commission (SEC) has announced a notice for an application regarding certain exemptions under the Investment Company Act of 1940. This application seeks to allow some registered closed-end investment companies to issue multiple share classes and charge early withdrawal fees, along with asset-based distribution and service fees. The application was submitted by the Capital Group KKR Multi-Sector+, Capital Group KKR Core Plus+, and Capital Research and Management Company on November 7, 2024. Public comments or requests for a hearing on this application must be submitted to the SEC by January 3, 2025.