Search Results for keywords:"unit investment trusts"

Found 3 results

Search Results: keywords:"unit investment trusts"

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  • 2021-03455 — Strategas Trust and Strategas Securities, LLC
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    Type:Notice
    Citation:86 FR 10606
    Reading Time:about 13 minutes

    The Securities and Exchange Commission (SEC) has announced a notice regarding an application for exemptions from certain provisions of the Investment Company Act of 1940. The applicants, Strategas Securities, LLC and Strategas Trust, seek permission for unit investment trusts (UITs) to impose deferred sales charges and offer exchange and rollover options to unitholders, among other requests. They also ask for relief from requirements related to net worth and capital gains distributions, arguing it's necessary to facilitate their investment strategies. Interested parties may request a hearing on the matter by March 15, 2021.

    Simple Explanation

    The SEC is looking at letting two companies, Strategas Securities, LLC and Strategas Trust, change some rules so they can handle money in a special way and charge fees differently. People can ask questions or say what they think before March 15, 2021.

  • 2025-00249 — Submission for OMB Review; Comment Request; Extension: Rule 30e-2
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    Type:Notice
    Citation:90 FR 2048
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) for the continued collection of information under Rule 30e-2. This rule requires unit investment trusts (UITs) to send financial reports to their unitholders and allows for "householding," where investors who share an address can receive a single report if they have given assent. The SEC estimates the annual burden for complying with this rule is 15 hours per respondent, affecting about 671 UITs, with a total cost of $4,495,700. Public comments on this request are invited until 30 days after the publication of this notice.

    Simple Explanation

    The Securities and Exchange Commission (SEC) wants more time to keep asking certain types of investment groups, called UITs, to send money reports to people who have invested with them. The plan is to let family members who live together get just one report, and people can tell the SEC what they think about this idea.

  • 2020-26971 — Good Faith Determinations of Fair Value
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    Type:Rule
    Citation:86 FR 748
    Reading Time:about 6 hours

    The Securities and Exchange Commission (SEC) is implementing a new rule, titled Rule 2a-5, under the Investment Company Act of 1940. This rule sets requirements for how investment companies should determine the fair value of their investments. Key elements include the management of valuation risks, specification of suitable fair value methodologies, and supervision of pricing services used to assess investment value. Additionally, the rule allows investment companies to designate a valuation expert to handle these assessments, provided they remain under the company's board's oversight. Furthermore, a new accompanying Rule 31a-4 mandates recordkeeping requirements to support these fair value determinations.

    Simple Explanation

    The Securities and Exchange Commission has made a new rule to help investment companies decide how much their investments are really worth. This rule asks them to be careful and honest when figuring out the value and to keep detailed records, so everyone can understand how they got their numbers.