Fund Trust Skips Shareholder Votes on Subadvisory Deals
Published Date: 12/31/2025
Notice
Summary
The RBB Fund Trust and Gladius Capital Management want permission to change their subadvisory agreements without asking shareholders every time. They’re also asking to skip some usual fee disclosures about these subadvisers. If approved, this will speed up their management decisions, with a chance for the public to request a hearing by January 23, 2026.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Subadviser Changes Without Share Vote
The RBB Fund Trust and Gladius Capital Management asked the SEC for permission to enter into and materially amend subadvisory agreements without getting approval from the fund’s shareholders. If the SEC grants the exemption, shareholders would not vote before those subadviser contracts are changed.
Fee Disclosure Relief for Subadvisers
The applicants asked the SEC for relief from certain disclosure rules so they would not have to provide some usual fee disclosures about payments to subadvisers. That would reduce the amount of fee information available to shareholders about what the fund pays its subadvisers.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in