📈SEC Notice on Investment Company Act Exemption Request
Align Alternative Access Fund and Sovereign Financial Group, Inc.
Summary
The Securities and Exchange Commission released a notice regarding an application from Align Alternative Access Fund and Sovereign Financial Group, Inc. for an exemption under the Investment Company Act of 1940. The application seeks permission for registered closed-end investment companies to issue various classes of shares with differing sales loads and service fees, impacting their operational strategy and regulatory compliance.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The notice discusses an application for an exemption to enable investment companies to issue multiple classes of shares with varying fees, impacting investment strategy flexibility and compliance with the Investment Company Act. This could present financial implications for investment firms and their clients.