NYSE Pulls Back on Easing Fund Meeting Requirements
Published Date: 2/7/2025
Notice
Summary
The New York Stock Exchange (NYSE) decided to stop trying to change the rules that would have let certain closed-end funds skip their yearly shareholder meetings. This affects closed-end funds registered under the Investment Company Act of 1940, meaning they still have to hold these meetings. No money or timing changes will happen since the rule change was withdrawn before approval.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
NYSE Withdraws Closed‑End Fund Exemption
If you own shares of a closed-end fund registered under the Investment Company Act of 1940, the NYSE's proposed rule to let those funds skip annual shareholder meetings was withdrawn on January 31, 2025. That means those closed-end funds still must hold annual shareholder meetings, and because the change was withdrawn before SEC approval, there are no changes to fees or meeting timing.
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