17 Jul 2025
📈SEC Extends Decision Period on Investment Company Rule Change
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Exempt Closed-End Management Investment Companies Registered Under the Investment Company Act of 1940 That Are Listed as of or After May 20, 2025 From the Annual Meeting of Shareholders Requirement Set Forth in Exchange Rule 14.10(f)
Summary
The SEC published a notice regarding a proposed rule change by Cboe BZX Exchange that aims to exempt certain closed-end management investment companies from the annual meeting of shareholders requirement. A decision by the SEC will be made by September 4, 2025, allowing for sufficient time to review the rule and comments.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The SEC's notice involves a proposed rule change affecting closed-end management investment companies, exempting them from the annual meeting requirement. This could impact compliance strategies for businesses listed under this category and may influence investment management practices.