Goldman Sachs Wants SEC Pass for Staff-Only Funds
Published Date: 5/21/2026
Notice
Summary
Goldman Sachs is asking the SEC for special permission to create investment funds just for its employees, letting them skip some usual rules. This change mainly affects Goldman Sachs workers and could speed up how these funds work without changing important protections. If no one objects by June 12, 2026, the SEC will approve this request.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Wide Exemptions Requested From Investment Company Act
The applicant requests an order exempting these employee Funds from all provisions of the Investment Company Act of 1940 except sections 9, 17, 30, and 36 through 53 and the rules and regulations under the Act. The applicant also requests a limited exemption with respect to sections 17(a), (d), (e), (f), (g), and (j); sections 30(a), (b), (e), and (h); and rule 38a-1.
Employee‑Only Investment Funds Allowed
Goldman Sachs asked the SEC for permission to create Funds (limited partnerships, LLCs, business trusts or other entities) organized primarily for the benefit of eligible employees of The Goldman Sachs Group, Inc. and its affiliates. The application seeks to treat each Fund as an "employees' securities company" under section 2(a)(13) of the Investment Company Act of 1940.
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