Search Results for keywords:"in-person meeting requirement"

The Securities and Exchange Commission (SEC) has released a notice about an application by Guardian Variable Products Trust and Park Avenue Institutional Advisers LLC. They are seeking an exemption from the requirement of the Investment Company Act of 1940 that mandates in-person meetings for approving new or amended sub-advisory agreements. The application was filed on December 13, 2024, and the SEC may hold a hearing if requested by interested parties. Hearing requests must be submitted to the SEC by February 18, 2025.

The Securities and Exchange Commission has issued a notice regarding an application by Russell Investment Company and others, seeking an exemption from having to hold in-person meetings for approving or amending their sub-advisory agreements. The applicants argue that this exemption would allow quicker decisions and reduce costs, as holding in-person meetings can be impractical due to changing market conditions and geographical diversity of board members. They propose that board members participate in meetings using technology that allows them to hear and potentially see each other. If granted, this relief would apply to current and future series managed by Russell Investment, provided they adhere to specified conditions.