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

The Securities and Exchange Commission (SEC) received an application from Columbia Funds Series Trust and Columbia Management Investment Advisers, LLC for an exemption from specific requirements under the Investment Company Act of 1940. The exemption would allow the Trusts' board of trustees to approve changes to sub-advisory agreements without holding in-person meetings, which can be costly and impractical. Instead, these meetings could be conducted using technology that allows board members to communicate simultaneously. The goal is to enable the Trusts to respond more efficiently to changes in the market or to adjust investment strategies without unnecessary delays.

The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget for the collection of information through Form N-6F. This form is used by companies to notify the SEC of their intention to register as a business development company under the Investment Company Act of 1940. The SEC estimates that about four companies file this form each year, with each filing taking approximately 0.5 hours to complete, resulting in a total cost of $736 to the industry annually. The information provided on Form N-6F is mandatory and not confidential, and the public can view related documents on the website www.reginfo.gov.

The Securities and Exchange Commission (SEC) has published a notice about an application from Columbia Credit Income Opportunities Fund and Columbia Management Investment Advisers, LLC. They are seeking permission for certain registered closed-end investment companies to issue multiple classes of shares and charge asset-based distribution and/or service fees and early withdrawal charges. The application was initially filed on December 31, 2024, and later amended on February 12, 2025. Interested individuals can request a hearing by contacting the SEC by April 8, 2025.

The Securities and Exchange Commission (SEC) has released a notice regarding an application from ISQ Infrastructure Income Fund and I Squared Capital Registered Advisor LLC. The application seeks exemptions from specific sections of the Investment Company Act of 1940, allowing certain registered closed-end investment companies to issue multiple classes of shares and impose early withdrawal charges and asset-based distribution or service fees. Interested parties have until March 31, 2025, to request a hearing about this application. The details of the application can be accessed via the SEC's EDGAR system.

The Securities and Exchange Commission (SEC) has received an application from Carlyle Global Credit Investment Management L.L.C. and Carlyle Credit Solutions, Inc. seeking an exemption to let certain investment companies issue different types of shares with varied fees. The application was initially filed in February 2025 and amended in March 2025. The SEC might issue an order granting the exemption unless someone requests a hearing by emailing the SEC by April 11, 2025. Contact details for the SEC and the applicants' legal representatives are provided for further inquiries.

The Securities and Exchange Commission (SEC) is extending the compliance deadlines for certain investment company name regulations initially set to avoid misleading investors. For fund groups with over $1 billion in assets, the compliance date is postponed from December 11, 2025, to June 11, 2026, while for smaller fund groups, it's moved from June 11, 2026, to December 11, 2026. The SEC is making these changes to help investment companies and their service providers, who are facing difficulties in meeting the original deadlines due to the complexity and costs involved. The new rule allows funds to align their compliance with their fiscal year-end obligations, reducing the need for costly off-cycle amendments.

The Securities and Exchange Commission (SEC) has issued a notice regarding an application from Hamilton Lane Private Assets Fund and related entities. The applicants seek permission for certain investment companies to pay advisory fees using shares of their own common stock. The public can request a hearing on this matter by contacting the SEC by December 20, 2024. Details of the application, including its legal analysis and conditions, are available on the SEC's website.

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) is considering an application from TCW Private Asset Income Fund and TCW Asset Backed Finance Management Company LLC. The applicants are seeking an order to allow certain closed-end investment companies to issue multiple classes of shares, and to apply asset-based distribution, service fees, and early withdrawal charges. The application was submitted on October 24, 2024, and the SEC has invited interested individuals to request a hearing regarding this matter by contacting them before December 20, 2024. If no hearing is ordered, the SEC may grant the requested relief.

The Securities and Exchange Commission (SEC) is considering an application from HarbourVest Private Investments Fund and HarbourVest Registered Advisers L.P. for an exemption under the Investment Company Act of 1940. This exemption would allow certain registered investment companies to pay advisory fees in shares of their common stock. Interested parties can request a hearing by emailing the SEC and the applicants by March 14, 2025. The application's details and conditions can be accessed through the SEC's EDGAR system.