7 Feb 2025
šWithdrawal of Proposed Rule Change on Shareholder Meetings
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change, as Modified by Amendment No. 1, To Exempt Closed-End Management Investment Companies Registered Under the Investment Company Act of 1940 From the Annual Meeting of Shareholders Requirement Set Forth in Exchange Rule 14.10(f)
Summary
The Securities and Exchange Commission formally acknowledged the withdrawal of a proposed rule change by Cboe BZX Exchange, which sought to exempt closed-end management investment companies from annual shareholder meeting requirements. This action underscores the complexities of regulatory compliance for investment companies under the Investment Company Act of 1940.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The withdrawal of the proposed rule to exempt closed-end management investment companies from annual shareholder meetings signifies ongoing regulatory challenges that could affect corporate governance and compliance requirements. This may impact business owners in terms of shareholder engagement strategies and regulatory risk management.