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.
Simple Explanation
The Securities and Exchange Commission got a letter from some money companies asking for special permission to let a new kind of money fund work like they asked, even if it breaks some rules, so people can buy and sell it differently. If anyone thinks this is a bad idea, they can say something before February 25, 2021.