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

The Securities and Exchange Commission (SEC) is reviewing a proposed rule change submitted by the Cboe BZX Exchange, Inc.. This proposal seeks to allow closed-end management investment companies that are registered under the Investment Company Act of 1940 to bypass the annual meeting of shareholders, as required by Exchange Rule 14.10(f). The SEC initially designated a longer period for decision-making to ensure they thoroughly evaluate the proposal and any comments received. They have now extended the deadline to either approve or disapprove this change to March 12, 2025, providing more time for consideration.

The Securities and Exchange Commission (SEC) is asking for an extension to continue using Form 12b-25, which companies use to notify the SEC if they can't file a necessary report on time. This form is part of the paperwork the SEC handles under the Securities Exchange Act or the Investment Company Act. There are about 2,849 filings each year, with each taking about 2.5 hours to complete, totaling 7,123 hours of work. The public is invited to comment on this information collection request within 30 days of the notice's publication date.

The Securities and Exchange Commission (SEC) has announced a notice regarding an application for exemption from certain sections of the Investment Company Act of 1940. AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC are seeking permission to allow business development companies to issue multiple classes of shares with different sales charges and fees. The application was initially filed in July 2024 and has been amended twice since then. Interested parties have until March 13, 2025, to request a hearing on the application.

The Securities and Exchange Commission (SEC) has issued a notice regarding an application from Thirdline Real Estate Income Fund and related entities. These applicants are seeking permission to engage in joint investment activities that are typically restricted by certain parts of the Investment Company Act of 1940. This application mentions the possibility of business development companies and investment companies co-investing in portfolio companies alongside certain affiliated investment entities. If there is no opposition, the SEC plans to grant the requested order, but interested parties may request a hearing by January 13, 2025, by following the specified communication procedures.

The Securities and Exchange Commission (SEC) is considering a proposed rule change by the New York Stock Exchange (NYSE) to exempt closed-end funds registered under the Investment Company Act of 1940 from having to hold annual shareholder meetings. The proposed rule change was published in the Federal Register on July 9, 2024, for public comment, and the SEC has extended the decision deadline to March 6, 2025, to allow more time for consideration. This extension allows the SEC to evaluate the proposed rule change thoroughly, the feedback received, and make an informed decision on whether to approve or disapprove it.

The Securities and Exchange Commission (SEC) has published a notice about an application from Antares Private Credit Fund and Antares Capital Credit Advisers LLC. They are seeking an exemption under the Investment Company Act of 1940 to allow certain investment companies to issue multiple classes of shares with different sales fees and service charges. The application was initially filed in May 2024 and amended in November 2024. The SEC will grant the requested relief unless a hearing is ordered, with hearing requests due by December 23, 2024.

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.

The Securities and Exchange Commission (SEC) has received a request for an order to allow specific business development companies and investment funds to co-invest in certain companies alongside affiliated investment entities, which is otherwise typically prohibited. The application, involving multiple entities connected to Morgan Stanley, was initially filed on January 29, 2024, and later amended on August 20, 2024. If no further hearing requests are received by January 13, 2025, the SEC will likely grant the relief sought. Interested parties can request a hearing via email and must serve the applicants with a copy of this request.

The Securities and Exchange Commission (SEC) has published a notice regarding an application for an order under the Investment Company Act of 1940. The order would grant exemptions from certain sections of the Act and a rule under it, allowing ActiveShares ETFs to issue and redeem shares in large batches, and facilitate market transactions at negotiated prices. The application involves the ActiveShares ETF Trust, Legg Mason Partners Fund Advisor, LLC, and Legg Mason Investor Services, LLC, seeking relief consistent with a prior order. The SEC will issue the order unless someone requests a hearing by February 8, 2021, by contacting the SEC via email.

The Securities and Exchange Commission (SEC) has issued a notice regarding an application under specific sections of the Investment Company Act of 1940. The application seeks permission for TCW Direct Lending VII LLC and its affiliates to carry out an exchange offer, allowing investors to swap their investment units for shares in a related fund called the Extension Fund. This exchange would also involve transferring a proportional share of the company's assets and liabilities to the Extension Fund. A hearing may be requested by interested parties by emailing the Commission by a specified deadline.