Funds Dodge Shareholder Votes for Quicker Fee Tweaks
Published Date: 4/20/2026
Notice
Summary
The RBB Fund Trust and Opal Capital LLC want permission to change their subadvisory agreements and fees without asking shareholders every time. This means they can act faster and keep some fee details private. If no one asks for a hearing by May 11, 2026, the SEC will approve these changes.
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Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Fee Disclosure Relief for Subadvisers
The applicants request relief from certain disclosure rules so they would not have to disclose fees paid to subadvisers in places required by current rules. If the SEC grants the order (absent a hearing requested by May 11, 2026), fee details related to subadvisers may be withheld from the specified disclosures.
Shareholders Not Required to Approve Subadvisers
The applicants ask permission to enter into and materially change subadvisory agreements without getting fund shareholder approval. The SEC will issue an order granting this relief unless someone requests a hearing by 5:30 p.m. Eastern on May 11, 2026.
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Key Dates
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