Manulife Wants Special SEC Pass for Staff-Only Funds
Published Date: 7/6/2026
Notice
Summary
Manulife Investment Management is asking the SEC for special permission to create investment funds just for their employees, letting them skip some usual rules. This change mainly affects Manulife’s staff and could speed up how these funds work, with a decision expected by late July 2026. If you want to speak up, you have until July 27 to request a hearing.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Broad Exemptions From Investment Company Act
Applicants request an order exempting these employee Funds from all provisions of the Investment Company Act except sections 9, 17, 30, and 36 through 53, and certain rules; they also request limited exemptions for specified subsections of section 17, sections 30(a),(b),(e),(h), and rule 38a-1. The SEC will issue an order unless it orders a hearing; hearing requests must be received by 2026-07-27.
Employee‑Only Investment Funds Allowed
Manulife asked the SEC for permission to form investment Funds organized primarily for the benefit of eligible Manulife employees. The application (filed March 14, 2025 and amended on October 3, 2025; April 16, 2026; and May 22, 2026) would treat each Fund or series as an "employees' securities company" under the Investment Company Act.
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