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The Securities and Exchange Commission (SEC) is inviting comments on the information collection requirements related to Rule 498, as outlined by the Paperwork Reduction Act. Rule 498 allows investment funds to use a Summary Prospectus for delivering key information about fund investments, while the full statutory prospectus is available online. The SEC estimates that about 10,536 funds are using this Summary Prospectus, with a total annual burden of approximately 15,804 hours and cost burden of around $190 million. Comments can help improve these processes and must be submitted within 60 days.

The Securities and Exchange Commission (SEC) has received an application for an order under sections of the Investment Company Act of 1940. The application seeks to allow certain business development companies and investment funds to make investments together, which would normally be restricted by law. The goal is to let these companies co-invest in small and medium-sized businesses, maximizing investment opportunities without unfair advantages. The SEC will issue the order unless a hearing is requested by March 22, 2021.

The Securities and Exchange Commission (SEC) has submitted a request to the Office of Management and Budget to extend the collection of information under Rule 20a-1 of the Investment Company Act of 1940. This rule requires investment funds to comply with specific regulations when soliciting proxies, consents, and authorizations related to their securities, ensuring that investors receive the necessary information to make informed voting decisions. Around 1,129 proxy statements from funds are filed annually, with an estimated 85 hours required for each filing, totaling about 95,965 hours annually. The public comment period for this request runs from December 16, 2024, to January 13, 2025.

The Securities and Exchange Commission (SEC) has received a request for an order to allow specific business development companies and investment funds to co-invest in certain companies alongside affiliated investment entities, which is otherwise typically prohibited. The application, involving multiple entities connected to Morgan Stanley, was initially filed on January 29, 2024, and later amended on August 20, 2024. If no further hearing requests are received by January 13, 2025, the SEC will likely grant the relief sought. Interested parties can request a hearing via email and must serve the applicants with a copy of this request.

The Securities and Exchange Commission has requested an extension for the approval of information collection under Form 24F-2, as required by the Paperwork Reduction Act of 1995. This form is used by certain investment funds to report securities sold during a fiscal year and calculate registration fees. The SEC estimates that about 6,794 funds complete this form annually, with an average time burden of four hours per fund. Public comments on this request can be submitted to the Office of Management and Budget or the SEC within 30 days of the notice publication.

The Securities and Exchange Commission (SEC) is seeking public comments on extending a rule that allows investment funds to invest in certain securities-related businesses, even though there's a general prohibition against it. This rule is important because it helps funds make investments without giving too much power to certain advisers. The SEC estimates that 49 funds will need to update their contracts each year to comply with this rule, and it will take about 3 hours for legal work, shared among similar rules. Public comments on this matter can be sent by June 17, 2025.

The Securities and Exchange Commission (SEC) is seeking public comments on its plan to extend the information collection required under Rule 12b-1. This rule allows investment funds to cover costs related to distributing their shares if certain conditions are met. It mandates funds to have a written plan approved by directors and shareholders, and to maintain records for oversight. The rule aims to protect investors by ensuring funds are transparent about their distribution expenses. Comments on the necessity, burden, and improvement of this information collection are invited by March 31, 2025.

The Securities and Exchange Commission (SEC) is requesting an extension from the Office of Management and Budget for a rule that permits certain investment funds to send just one prospectus to multiple investors living at the same address. This rule, known as Rule 154, is intended to reduce unnecessary duplicate mailings. The SEC estimates that about 530 mutual fund series comply with this rule by obtaining written consent from investors, while others don't use it due to costs or electronic delivery options. The SEC is gathering public comments on this request until January 6, 2025, to determine if the extension should be granted.