REX Advisers ETF Seeks SEC Nod to Skip Shareholder Approvals
Published Date: 1/21/2025
Notice
Summary
ETF Opportunities Trust and REX Advisers want to change how they work with their subadvisors without needing shareholder approval every time. They’re also asking to share less info about fees paid to these subadvisors. If no one objects by February 10, 2025, the SEC will likely approve these changes, which could speed up decisions and affect how fees are handled.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Subadvisor Changes Without Shareholder Vote
If you own shares of ETF Opportunities Trust, the fund has applied to let it enter into and materially amend subadvisory agreements with certain subadvisors without asking shareholders for approval. The application was filed October 25, 2024, and the SEC will issue an order unless a hearing is requested by 5:30 p.m. on February 10, 2025.
Reduced Fee Disclosure for Subadvisors
The applicants seek relief from specific disclosure requirements so the fund could share less information about fees paid to subadvisors under rule 20a-1, Item 19(a)(3) of Form N-1A, certain Schedule 14A items, and parts of Regulation S-X. The SEC application was filed October 25, 2024, and hearings must be requested by February 10, 2025.
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