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

Found 78 results

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

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  • 2025-04644 — Columbia Credit Income Opportunities Fund and Columbia Management Investment Advisers, LLC
    Type:Notice
    Citation:90 FR 12843
    Reading Time:about 2 minutes

    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.

    Simple Explanation

    The SEC is looking at a request from a company that wants to offer different types of shares in a money-earning fund and charge certain fees when people take out their money early. People can ask the SEC for more information or a chat about it until April 8, 2025.

  • 2024-30689 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Exempt Closed-End Management Investment Companies Registered Under the Investment Company Act of 1940 From the Annual Meeting of Shareholders Requirement Set Forth in Exchange Rule 14.10(f)
    Type:Notice
    Citation:89 FR 105162
    Reading Time:about 3 minutes

    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.

    Simple Explanation

    The Securities and Exchange Commission (SEC) is deciding whether to allow some special types of investment companies to skip having a big yearly meeting, and they need more time to think about it, so they moved the decision to next March. They want to make sure they're making the right decision, so they're taking extra time to look at all the details and any comments from people who are interested.

  • 2025-02917 — AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC
    Type:Notice
    Citation:90 FR 10107
    Reading Time:about 2 minutes

    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.

    Simple Explanation

    The Securities and Exchange Commission is thinking about letting two companies, AMG Comvest Senior Lending Fund and Comvest Credit Managers, LLC, sell different kinds of shares with different prices and rules, which isn't normally allowed. They have asked for permission to do this, and people have until March 13, 2025, to say if they want to talk more about it.

  • 2020-29013 — Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
    💰
    Type:Notice
    Citation:86 FR 157
    Reading Time:about a minute or two

    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.

    Simple Explanation

    The Securities and Exchange Commission (SEC) is sharing that two companies want to stop being called "investment companies" because they gave the money back to the people who put money in and then closed. They paid a lot of money to do this, but it's not clear why or how it was decided.

  • 2021-02126 — Submission for OMB Review; Comment Request
    Type:Notice
    Citation:86 FR 7906
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) for the continued collection of information under Rule 30b2-1. This rule, part of the Investment Company Act of 1940, requires investment companies to file reports with the SEC that include financial statements shared with investors. The information helps meet legal disclosure requirements and offer investors necessary details for evaluating funds. The SEC is seeking public comments on this information collection within 30 days.

    Simple Explanation

    The SEC wants to keep collecting important money-related reports from investment companies to help people understand how their investments are doing. They are asking people to say what they think about this idea in the next 30 days.

  • 2024-30688 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend Section 302.00 of the NYSE Listed Company Manual To Exempt Closed-End Funds Registered Under the Investment Company Act of 1940 From the Requirement To Hold Annual Shareholder Meetings
    Type:Notice
    Citation:89 FR 105143
    Reading Time:about 2 minutes

    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.

    Simple Explanation

    The people in charge of stock markets are thinking about changing a rule so that some special money-keeping groups (called closed-end funds) don't have to hold a big yearly meeting. They decided to take more time to really think about this change before deciding if it's a good idea or not.

  • 2025-03563 — Deregistration under Section 8(f) of the Investment Company Act of 1940
    Type:Notice
    Citation:90 FR 11340
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) is announcing a notice regarding applications for deregistration under Section 8(f) of the Investment Company Act of 1940, specifically for February 2025. A unit investment trust, named FSL Separate Account M, has applied for an order declaring that it is no longer an investment company, as it currently has 96 beneficial owners and does not offer or plan to offer securities. The filing for this application was made on July 1, 2024, and the applicant operates as a private investment fund under section 3(c)(1) of the Act. Public comments or hearing requests can be submitted until March 25, 2025.

    Simple Explanation

    There's a company that has stopped selling special money packets, and now they want to be known as a private club for certain people who already have these packets. They asked the grown-up helpers who watch over companies to officially mark them as no longer a company that sells these packets.

  • 2025-04646 — Antares Strategic Credit Fund, et al.
    Type:Notice
    Citation:90 FR 12857
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) published a notice regarding an application from the Antares Strategic Credit Fund, Antares Private Credit Fund, and Antares Capital Credit Advisers LLC. They are seeking permission to allow certain registered closed-end investment companies, which operate as business development companies, to issue multiple classes of shares with different sales loads and service fees. The application was initially filed on March 10, 2025, and amended on March 14, 2025. Interested parties can request a hearing by April 8, 2025, by contacting the SEC.

    Simple Explanation

    The government is checking if a company wants to sell their special money club memberships in a new way. They need to make sure everyone understands how it works and that there's no secret fees.

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