Investors Skip Votes on Fund Management Tweaks
Published Date: 3/24/2026
Notice
Summary
Advisors Series Trust and Scharf Investments, LLC want permission to change their subadvisory agreements without asking shareholders every time and to keep some fee details private. This means they can work faster and with less paperwork, but people can still ask for a hearing by April 13, 2026. If approved, it could save time and reduce costs for these investment groups.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Relief From Fee Disclosure Requirements
The applicants request relief from certain disclosure requirements so they would not have to disclose fees paid to subadvisers under rule 20a-1, Form N-1A Item 19(a)(3), parts of Schedule 14A, and parts of Regulation S-X. If granted, shareholders of these funds could receive less public detail about fees paid to subadvisers.
Change Subadviser Agreements Without Vote
If you own shares of Advisors Series Trust, the applicants ask the SEC for permission to enter into and materially amend subadvisory agreements with subadvisers without getting shareholder approval. The application (filed Oct 3, 2025 and amended Feb 27, 2026) requests an exemption under section 6(c) of the Investment Company Act to allow these changes.
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
Related Federal Register Documents
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!
2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.
2026-11809 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.
Previous / Next Documents
Previous: 2026-05666 — FP Strategies LLC, et al.
FP Strategies LLC and partners want permission to team up and invest together in certain companies, even though current rules usually say no. This change affects business development companies and investment firms, letting them co-invest and share opportunities starting soon unless someone asks for a hearing by April 13, 2026. No direct money changes yet, but this could open doors for bigger deals and smarter investments.
Next: 2026-05668 — Presidential Declaration Amendment of a Major Disaster for Public Assistance Only for the State of Louisiana
Louisiana’s winter storm disaster declaration just got an upgrade! Five more parishes—Catahoula, Lincoln, Madison, Union, and Webster—are now officially recognized for public assistance. If you’re in these areas, you’ve got until May 4, 2026, to apply for physical damage loans and December 4, 2026, for economic injury loans. Time to get the help you need and bounce back stronger!