SEC Eyes Skipping Shareholder Votes for Faster Fund Tweaks
Published Date: 3/19/2026
Notice
Summary
The RBB Fund Trust and M.D. Sass, LLC want permission to change their subadviser contracts without asking shareholders every time. They’re also asking to skip some usual fee disclosures to make things simpler. If no one objects by April 13, 2026, the SEC will likely say yes, which could speed up how these funds manage their money.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Subadviser Contracts Without Shareholder Vote
The RBB Fund Trust and M.D. Sass, LLC ask the SEC for permission to enter into and materially change subadvisory agreements without getting shareholder approval. The application was filed on January 27, 2026, and an order granting relief will be issued unless the SEC orders a hearing; hearing requests must be received by April 13, 2026.
Reduced Fee Disclosure for Subadvisers
The applicants seek relief from certain disclosure requirements about fees paid to subadvisers, including rules under rule 20a-1, Item 19(a)(3) of Form N-1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and 22(c)(9) of Schedule 14A, and parts of Regulation S-X. This would mean investors might not receive the usual fee disclosures tied to subadviser arrangements.
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!
2026-16936, Eagle Point Credit Management LLC and Eagle Point Trinity Senior Secured Lending Company
2026-16951, Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule Regarding Certain Free Trials
Cboe C2 Exchange is changing its free trial offer for certain market data. Instead of letting users pick any six months of past data, everyone will get the same fixed six-month period from July to December 2022. This update starts right away and helps keep things simple for traders and data users.
Previous / Next Documents
Previous: 2026-05433, Megacorn Fund and Forge Global Advisors LLC
Megacorn Fund and Forge Global Advisors want permission to offer different types of shares in their investment funds and charge fees based on assets or early withdrawals. This change could affect investors by giving them more options but also new fees. If no one asks for a hearing by April 13, 2026, the SEC will likely approve it.
Next: 2026-05435, Center for Scientific Review; Notice of Closed Meetings
The Center for Scientific Review is holding several closed virtual meetings in April 2026 to review and evaluate grant applications in areas like gastroenterology, cardiovascular biology, and neurological disorders. These meetings protect private info and trade secrets, so they’re not open to the public. Researchers and grant applicants should note these dates as they impact funding decisions but don’t involve new costs or deadlines.