Search Results for keywords:"Rule 17a-8"

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Search Results: keywords:"Rule 17a-8"

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  • 2025-03279 — Submission for OMB Review; Comment Request; Extension: Rule 17a-8
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    Type:Notice
    Citation:90 FR 10963
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) has issued a notice under the Paperwork Reduction Act of 1995, requesting an extension for the collection of information related to Rule 17a-8. This rule involves mergers of affiliated investment companies and requires specific procedures such as board approvals and evaluations for assets when merging with an unregistered entity. The average annual burden is estimated at 7 hours per fund, with a total annual cost for all funds estimated at $3,151,248. The public can submit comments on the usefulness and burden of this information collection until March 31, 2025.

    Simple Explanation

    The government is checking if they still need a rule that helps school clubs (funds) merge with clubs not part of their group, and they want to make sure this isn't too hard or expensive for the clubs. They're asking people to say if they think the rule is good or bad before the end of March 2025.

  • 2024-29913 — Proposed Collection; Comment Request; Extension: Rule 17a-8
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    Type:Notice
    Citation:89 FR 103012
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) is asking for public comments on a proposed extension of its information collection under Rule 17a-8, which relates to mergers of affiliated investment companies. This rule allows certain mergers to bypass restrictions on transactions between a fund and its affiliates, and it requires directors to evaluate and document key aspects of such mergers. The SEC estimates that this rule affects around 200 funds annually, resulting in a total burden of 1,400 hours and a cost of over $3 million. The public can submit comments on the necessity and burden of these requirements until February 18, 2025.

    Simple Explanation

    The SEC (kind of like a referee for money rules) wants to know if everyone thinks the rules for special company mergers are fair and not too hard to follow. They want people to tell them what they think before next February.