Investment Company Act Of 1940

What Does Investment Company Act Of 1940 Mean?
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 explains Investment Company Act Of 1940
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.

Filed Under: Mutual Funds, Stocks

Related Terms

3C1
3C7
Fiduciary
Hedge Fund
Investment Company
Management Investment Company
Mutual Fund
Regulation FD
SEC Form N-54C
Securities and Exchange Commission - SEC
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