Search Results for keywords:"board approvals"

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Search Results: keywords:"board approvals"

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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.

  • 2021-02179 — Hamilton Lane Private Assets Fund, et al.
    Type:Notice
    Citation:86 FR 7892
    Reading Time:about 52 minutes

    The Securities and Exchange Commission has announced a notice regarding an application submitted by Hamilton Lane Private Assets Fund and others. The applicants are seeking permission for certain investment companies to make joint investments with affiliated funds, which would otherwise be prohibited under existing regulations. They aim to allow a closed-end management investment company to invest in portfolio companies alongside related investment funds. The application includes various conditions to ensure that such investments are fair and equitable for all parties involved.

    Simple Explanation

    The government is looking at a request from a company to let different investment groups work together to share money on projects, even though the current rules usually don't allow it. They want to make sure that everything is fair and rules are followed, so they plan to set up some guidelines to protect everyone involved.