The Securities and Exchange Commission (SEC) has issued a notice regarding an application filed by Callodine Specialty Income Fund and Callodine Capital Management, LP. The application seeks an exemption from certain sections of the Investment Company Act of 1940 to allow registered closed-end investment companies to offer multiple classes of shares, alongside asset-based distribution and service fees, as well as early withdrawal charges. If the SEC does not order a hearing, an order granting the exemptions will be issued. Interested parties have until December 20, 2024, to request a hearing or be informed about one.
Simple Explanation
The SEC is thinking about letting a company called Callodine have special rules for how they sell and manage their investment products, but people have until December 20, 2024, to say if they want a meeting to talk about it.