Search Results for keywords:"reorganization expenses"

Found 3 results

Search Results: keywords:"reorganization expenses"

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  • 2024-31497 — Deregistration Under Section 8(f) of the Investment Company Act of 1940
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    Type:Notice
    Citation:90 FR 355
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) issued notices for deregistration applications under Section 8(f) of the Investment Company Act of 1940. Several investment companies, including BNY Mellon Municipal Bond Funds, John Hancock Tax-Advantaged Global Shareholder Yield Fund, List Income Opportunities Fund, and PREDEX, have applied to cease being investment companies. These applicants are transferring their assets to other funds and have made final distributions to shareholders. Each application contains specific details about the asset transfer, final distributions, and expenses incurred.

    Simple Explanation

    In this notice, some companies that used to invest people's money are saying they have stopped doing that because they gave all their stuff to different companies. Now, they're asking to be officially declared as "not investing people's money" anymore.

  • 2024-28425 — Deregistration Under Section 8(f) of the Investment Company Act of 1940
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    Type:Notice
    Citation:89 FR 96701
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) has announced a notice concerning applications for deregistration under Section 8(f) of the Investment Company Act of 1940 for November 2024. Several companies have applied for deregistration, seeking orders to no longer be considered investment companies after transferring or liquidating assets. Notable names include Aquila Municipal Trust, BCM Focus Funds, Cohen & Steers Alternative Income Fund, Inc., Cook & Bynum Funds Trust, and GL Beyond Income Fund. These applicants have completed financial transactions and distributions, and expenses were generally covered by the investment advisers of the acquiring or liquidating entities.

    Simple Explanation

    The SEC is deciding whether some companies can stop following certain rules because they no longer run the special type of business they did before, like when you stop going to school because you've finished. These companies have given their stuff to other companies, kind of like sharing toys, and some helpers paid for the costs to do this.

  • 2020-29013 — Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
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    Type:Notice
    Citation:86 FR 157
    Reading Time:about a minute or two

    The Securities and Exchange Commission (SEC) published a notice regarding two applicants, Premier Multi-Series VIT and SEI Insurance Products Trust, seeking orders to stop being classified as investment companies. Premier Multi-Series VIT made a final distribution to its shareholders on April 22, 2020, and incurred expenses of roughly $97,923 in this process. SEI Insurance Products Trust completed a similar process on September 28, 2020, costing around $21,512. Both companies filed official applications in 2020 to formalize their requests with the SEC.

    Simple Explanation

    The Securities and Exchange Commission (SEC) is sharing that two companies want to stop being called "investment companies" because they gave the money back to the people who put money in and then closed. They paid a lot of money to do this, but it's not clear why or how it was decided.