SEC Gives U.S. Bancorp Temporary Pass After Old Court Order
Published Date: 5/19/2026
Notice
Summary
U.S. Bancorp and its partners got a temporary green light to keep doing some fund services despite a court order against BTIG from 2022. This temporary okay lasts until the SEC decides on a permanent solution, so things keep running smoothly without money hiccups. If you want to speak up, you’ve got until June 9, 2026, to ask for a hearing.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Temporary Exemption Keeps Fund Services Running
If you own shares of funds advised or underwritten by U.S. Bancorp’s advisers, the SEC granted a temporary exemption effective May 15, 2026 that lets those advisers and underwriters continue providing Fund Servicing Activities despite a 2022 court judgment involving BTIG. The Applicants say this prevents funds and their shareholders from being deprived of advisory or underwriting services and avoids substantial costs, including costs to identify successors, hold board meetings, and solicit shareholders.
Deadline to Request a Hearing
If you want a hearing about the temporary order, you must request it by emailing the SEC Secretary and serving the Applicants by 5:30 p.m. Eastern on June 9, 2026. Hearing requests must include the file number 812-16028 and proof of service (an affidavit or certificate of service for lawyers).
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