Investment Company Act of 1940
E9481
The Investment Company Act of 1940 is a U.S. federal law that regulates the organization and activities of investment companies, such as mutual funds, to protect investors through disclosure, governance, and operational requirements.
All labels observed (4)
Statements (62)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
securities regulation law ⓘ |
| administeredBy |
Securities and Exchange Commission
ⓘ
surface form:
U.S. Securities and Exchange Commission
|
| appliesTo | publicly offered investment companies ⓘ |
| citation | 15 U.S.C. § 80a-1 et seq. ⓘ |
| contains |
Section 1 (Findings and declaration of policy)
ⓘ
Section 10 (Affiliations of directors and underwriters) ⓘ Section 12 (Functions and activities of investment companies) ⓘ Section 15 (Investment advisory and underwriting contracts) ⓘ Section 17 (Transactions of certain affiliated persons and underwriters) ⓘ Investment Company Act of 1940 self-linksurface differs ⓘ
surface form:
Section 18 (Capital structure of investment companies)
Section 2 (Definitions) ⓘ Section 22 (Distribution, redemption, and repurchase of securities) ⓘ Section 3 (Definition of investment company) ⓘ Section 36 (Breach of fiduciary duty) ⓘ Section 38 (Rules, regulations, and orders) ⓘ Section 4 (Classification of investment companies) ⓘ Section 5 (Subclassification of management companies) ⓘ Section 8 (Registration of investment companies) ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| dateEnacted | 1940-08-22 ⓘ |
| effectiveDate | 1940-11-01 ⓘ |
| enactedBy | United States Congress ⓘ |
| enforcementBy |
Division of Investment Management
ⓘ
surface form:
SEC Division of Investment Management
|
| enforcementMechanism |
administrative proceedings
ⓘ
civil enforcement actions ⓘ |
| imposes |
asset coverage requirements for senior securities
ⓘ
limitations on concentration of investments ⓘ limitations on leverage by investment companies ⓘ requirements for shareholder voting on fundamental policies ⓘ restrictions on affiliated transactions ⓘ restrictions on custody of fund assets ⓘ restrictions on investment company names that may mislead investors ⓘ restrictions on multiple classes of shares ⓘ rules on distribution and underwriting of fund shares ⓘ rules on valuation of portfolio securities ⓘ |
| influenced | global regulation of collective investment schemes ⓘ |
| jurisdiction | federal law of the United States ⓘ |
| longTitle | An Act to provide for the registration and regulation of investment companies and investment advisers, and for other purposes ⓘ |
| partOf | federal securities laws of the United States ⓘ |
| policyGoal |
mitigation of conflicts of interest between fund managers and investors
ⓘ
promotion of transparency in pooled investment vehicles ⓘ |
| presidentAtEnactment |
President Franklin D. Roosevelt
ⓘ
surface form:
Franklin D. Roosevelt
|
| primaryPurpose |
protection of investors
ⓘ
regulation of the organization and activities of investment companies ⓘ |
| provides | exemptions for certain privately offered funds ⓘ |
| regulates |
closed-end funds
ⓘ
exchange-traded funds ⓘ investment companies ⓘ mutual funds ⓘ unit investment trusts ⓘ |
| relatedTo |
Dodd–Frank Wall Street Reform and Consumer Protection Act
ⓘ
Investment Advisers Act of 1940 ⓘ U.S. Securities Act of 1933 ⓘ
surface form:
Securities Act of 1933
U.S. Securities Exchange Act of 1934 ⓘ
surface form:
Securities Exchange Act of 1934
|
| requires |
approval of advisory contracts by shareholders
ⓘ
disclosure of financial and operational information to investors ⓘ independent directors on investment company boards ⓘ periodic reporting to the SEC ⓘ registration of investment companies with the SEC ⓘ |
| shortTitle | Investment Company Act of 1940 self-link ⓘ |
| signedBy |
President Franklin D. Roosevelt
ⓘ
surface form:
Franklin D. Roosevelt
|
Referenced by (24)
Full triples — surface form annotated when it differs from this entity's canonical label.
Investment Company Act of 1940
→
contains
→
Investment Company Act of 1940
self-linksurface differs
ⓘ
this entity surface form:
Section 18 (Capital structure of investment companies)
this entity surface form:
Investment Company Act of 1940 provisions
subject surface form:
U.S. Congress
this entity surface form:
Investment Company Act of 1940 (codified sections)