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) published a notice to adjust civil monetary penalties for inflation as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. These adjustments apply to penalties under the Securities Act, the Exchange Act, the Investment Company Act, and part of the Sarbanes-Oxley Act. The new amounts were calculated using a percentage change between the Consumer Price Index for October 2023 and October 2024 and will be effective from January 15, 2025. This update ensures penalties keep pace with inflation and remain effective deterrents.

The Securities and Exchange Commission (SEC) has published a notice about an application from the Coatue CTEK Fund and Coatue Management, L.L.C. These applicants are seeking an order to allow certain registered closed-end investment companies to issue multiple classes of shares, along with imposing asset-based fees and early withdrawal charges. If no hearing is requested by January 7, 2025, the SEC is set to grant the requested exemptions. Interested parties are given details on how to apply for a hearing if they wish to contest the application.

The Securities and Exchange Commission (SEC) has issued a notice about a request from the First Eagle Private Credit Fund and First Eagle Investment Management, LLC. They are asking for permission to allow certain investment companies that are organized as business development companies to issue different classes of shares with varying sales charges and fees. This request is being made under specific sections of the Investment Company Act of 1940. The public can request a hearing on this matter by contacting the SEC before January 7, 2025.

The Securities and Exchange Commission (SEC) issued a notice about an application from ETF Opportunities Trust and REX Advisers, LLC. They are seeking an exemption from specific parts of the Investment Company Act of 1940 and certain disclosure requirements. This exemption would allow them to enter or amend subadvisory agreements without needing shareholder approval and alleviate some obligations on fee disclosures to subadvisors. A hearing or notification will be conducted unless requested by interested parties by February 10, 2025.

The Securities and Exchange Commission received a proposed rule change from the Cboe BZX Exchange, Inc. to list and trade shares of the 21Shares Core XRP Trust. This trust focuses on XRP, a digital asset intended for fast and low-cost transactions, different from other cryptocurrencies like Bitcoin and Ethereum. The proposal argues that XRP is less prone to price manipulation and offers ample protection for investors by securing assets in segregated accounts. The SEC is seeking public comments on this proposal to assess its compliance with regulatory standards, evaluating if it prevents fraud and protects investors before a final decision.

The Securities and Exchange Commission (SEC) announced a notification about an application from Barings LLC and Barings Private Credit Corporation. They seek an order that would allow certain investment companies to issue different classes of shares with varying sales loads and fees. The application was initially filed on February 4, 2025, and later amended on March 14, 2025. Interested parties have until April 14, 2025, to request a hearing if they have concerns or objections regarding this application.

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) has submitted a request to the Office of Management and Budget to extend the collection of information under Rule 20a-1 of the Investment Company Act of 1940. This rule requires investment funds to comply with specific regulations when soliciting proxies, consents, and authorizations related to their securities, ensuring that investors receive the necessary information to make informed voting decisions. Around 1,129 proxy statements from funds are filed annually, with an estimated 85 hours required for each filing, totaling about 95,965 hours annually. The public comment period for this request runs from December 16, 2024, to January 13, 2025.

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.