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

The Securities and Exchange Commission is reviewing a request from the Blue Tractor ETF Trust and Blue Tractor Group, LLC to amend a prior exemption order. This change would permit the funds to use "Creation Baskets" that may contain different instruments or weightings compared to their current portfolios. The purpose is to offer greater flexibility, reduce costs, and improve efficiency, without disadvantaging shareholders or compromising regulatory compliance. The commission will issue the ruling unless a hearing is requested by March 8, 2021.

The Securities and Exchange Commission is considering applications from several investment companies seeking to deregister under the Investment Company Act of 1940 as they have stopped operations. These companies have either distributed their assets or transferred them to other funds, with some incurring liquidation or reorganization expenses, often covered by investment advisers or related parties. Various applications were filed or amended in 2020 and 2021, with the companies seeking orders to cease being recognized as investment companies. Some entities, like American Independence Funds Trust and Boston Income Portfolio, have requested official deregistration following the liquidation of their assets.

The Securities and Exchange Commission has issued a notice regarding an application by Russell Investment Company and others, seeking an exemption from having to hold in-person meetings for approving or amending their sub-advisory agreements. The applicants argue that this exemption would allow quicker decisions and reduce costs, as holding in-person meetings can be impractical due to changing market conditions and geographical diversity of board members. They propose that board members participate in meetings using technology that allows them to hear and potentially see each other. If granted, this relief would apply to current and future series managed by Russell Investment, provided they adhere to specified conditions.

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.

The Securities and Exchange Commission (SEC) has announced a notice about an application from The RBB Fund Trust and Tweedy, Browne Company LLC. They are seeking an exemption from specific requirements under the Investment Company Act of 1940. This would allow them to make changes to subadvisory agreements without needing shareholder approval. The notice includes details on how interested individuals can request a hearing regarding this application.

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) 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 has received an application from The RBB Fund, Inc., Red Gate Advisers, LLC, and Herald Investment Marketing, LLC for an exemption that would allow certain Shielded Alpha ETFs to issue and redeem shares only in large groups, permit trading at market prices rather than net asset value, and allow certain affiliated transactions. The goal is to align with a previous order's conditions to enable the operation of Shielded Alpha ETFs. A hearing request can be made before February 25, 2021, if there are concerns about the proposed exemptions.

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) 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.