23 Jun 2025
🏦SEC Notice for Advisors Series Trust Exemption Request
Advisors Series Trust and Distribution Cognizant, LLC
Summary
The SEC issued a notice regarding Advisors Series Trust and Distribution Cognizant LLC's application for an exemption from certain provisions of the Investment Company Act of 1940. The proposed exemption would facilitate the amendment of subadvisory agreements without requiring shareholder approval, while also relieving specific disclosure requirements related to fees paid to subadvisers.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The regulatory notice provides an exemption that allows Advisors Series Trust to amend subadvisory agreements without shareholder approval, impacting internal governance and compliance processes for financial firms. This reduction in disclosure requirements could lead to cost savings and operational efficiency for related businesses.