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.
Simple Explanation
The Securities and Exchange Commission (SEC) is thinking about letting some companies make certain changes to how they work with others, like swapping helpers or talking about money, without always asking everyone who owns a piece. Some people worry this might make it harder to see what’s happening with their money, and if anyone wants to say something about this, they have until February 10, 2025, to speak up.