Investment Company Act Of 1940
Created in 1940 through an act of Congress, this piece of legislation clearly defines the responsibilities and limitations placed on fund companies that offer investment products to the public. Investopedia Says:
Enforced and regulated by the Securities and Exchange Commission, this act clearly sets out the limits regarding filings, service charges, financial disclosure and fiduciary duties of open-end mutual, exchange-traded and closed-end funds. It is the document that keeps investment companies in check. Related Terms:
3C1
3C7
Fiduciary
Hedge Fund
Investment Company
Mutual Fund
Regulation FD
Securities and Exchange Commission - SEC |