In a notice from the Securities and Exchange Commission (SEC), an application was submitted under the Investment Company Act of 1940. The applicants, including Privacore PCAAM Alternative Income Fund and others, are seeking exemptions to allow certain investment companies to issue multiple share classes with asset-based distribution or service fees and early withdrawal charges. A hearing on the application may occur if requested by December 23, 2024. Public comments and hearing requests can be submitted via email, and further information is available on the SEC's EDGAR system.
Simple Explanation
In a notice from the SEC, some companies want to change how they sell their shares to make them more flexible and charge certain fees, and people can ask for a meeting or give their thoughts about this by December 23, 2024.