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.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-16781, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Sections 303A.00 and 303A.07 of the NYSE Listed Company Manual
The New York Stock Exchange (NYSE) is giving listed companies more time to set up their internal audit teams, which help keep an eye on risks and controls. This change affects all companies listed on the NYSE and aims to make the transition smoother without rushing. No new costs or deadlines are added yet, but companies should prepare for the updated timeline once it’s official.
2026-16784, Self-Regulatory Organizations; The Depository Trust Company; Order Approving Proposed Rule Change To Amend the Redemptions Service Guide and the Operational Arrangements (Necessary for Securities To Become and Remain Eligible for DTC Services)
Previous / Next Documents
Previous: 2025-24125, Aristotle Pacific Enhanced CLO Income Fund and Aristotle Pacific Capital, LLC
Aristotle Pacific Enhanced CLO Income Fund and Aristotle Pacific Capital, LLC want permission to offer different types of shares with special fees and early withdrawal charges. This change affects investors who might see new fee options and share classes starting soon. If anyone wants a hearing about this, they must ask by January 23, 2026, or the SEC will likely approve it.
Next: 2025-24128, Aquaculture Support Operations Waiver Request for the Vessels COLBY PERCE, RONJA CARRIER, SADIE JANE, MISS MILDRED 1, and KC COMMANDER
The Maritime Administration is reviewing a request to let five vessels—COLBY PERCE, RONJA CARRIER, SADIE JANE, MISS MILDRED 1, and KC COMMANDER—help with aquaculture support operations like protecting fish from disease. They want to make sure no suitable U.S. vessels are available before approving this waiver. Public comments are open until January 30, 2026, so everyone can weigh in before any changes happen.