SEC Extends Form N-14 for Investment Company Mergers
Published Date: 1/16/2026
Notice
Summary
The SEC is asking for comments to keep using Form N-14, which helps companies share important info when they merge or offer new securities. This form affects investment companies and business development companies, making sure investors get the facts they need. About 233 filings happen each year, and the process stays pretty much the same with no new costs or big changes.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
Large time burden on filers
Filing a new Form N-14 is estimated to take about 590 hours per filing, and amending a Form N-14 is estimated at about 300 hours per amendment. The SEC estimates about 141 new statements and 92 amendments per year, for a total annual internal burden of approximately 103,685 hours.
Annual outside-costs to prepare filings
The SEC estimates the total annual cost burden for goods and services to prepare and update Form N-14 registration statements at approximately $3,401,800, for items such as services of outside counsel. This is an annual paperwork-related expense tied to preparing and amending these registration statements.
Form N-14 keeps investor disclosures
Form N-14 continues to be the registration form that management investment companies and business development companies use when they do certain mergers, exchange offers, or reofferings. Its main purpose is to make material information about the securities being issued available to investors, and the SEC estimates about 233 Form N-14 filings happen each year.
Filings are not confidential
Responses to the Form N-14 information collection will not be kept confidential, meaning material submitted on the registration statements is publicly available. Compliance with Form N-14 is mandatory under the Securities Act.
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
2026-06475 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Cboe Rule 5.4
Cboe Exchange is changing the smallest price step for options on its Mini Bitcoin ETF Index to make trading smoother and clearer. This change affects traders using these options and kicks in quickly after approval, with no extra costs involved. The SEC gave this update a fast green light, so expect the new rules to start soon!
2026-06469 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing of Proposed Rule Change To Amend BOX Rules 5055 (FLEX Equity Options) and 3120 (Position Limits)
BOX Exchange wants to update its rules for special options tied to popular Bitcoin and Ethereum ETFs and trusts. These changes affect traders using FLEX equity options and position limits, aiming to keep things fair and clear. The new rules could impact how much traders can hold and trade, with the proposal open for public comments starting April 2026.
2026-06473 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposal To Amend the Exchange's Anti-Internalization Functionality in Equity 4, Rule 3307, and To Extend the Implementation Date of the CORE FIX Order Entry Protocol
Nasdaq PHLX is updating a rule that helps stop trades from accidentally happening within the same firm, which keeps trading costs down. They’re also pushing back the start date for a new order entry system called CORE FIX. These changes affect traders using Nasdaq PHLX and aim to make trading smoother without extra costs, with the new system launch delayed to give everyone more time to get ready.
2026-06462 — Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Monthly Enterprise Fee for Its Depth of Book Proprietary Market Data Feed
24X National Exchange is starting a new monthly fee for companies using its special market data feed that shows detailed order info. This change affects businesses that rely on this data and kicks in right away, meaning they’ll pay a set monthly charge to access it. It’s a clear move to keep the data service running smoothly and fairly.
2026-06466 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposal To Amend the Exchange's Anti-Internalization Functionality in Equity 4, Rule 4757, and To Extend the Implementation Date of the CORE FIX Order Entry Protocol
Nasdaq is updating a rule that helps stop trades from accidentally happening within the same firm, which keeps trading fair and lowers costs. They’re also pushing back the start date for a new order entry system called CORE FIX to give everyone more time to get ready. These changes affect traders using Nasdaq and aim to make trading smoother without extra fees or delays.
2026-06463 — Joint Industry Plan; Notice of Filing of Amendment No. 1, and Order Instituting Proceedings To Determine Whether To Approve or Disapprove an Amendment to the National Market System Plan Regarding Consolidated Equity Market Data, as Modified by Amendment No. 1, To Adopt a Fee Schedule
Big stock market players like exchanges and trading groups want to start charging fees for sharing important stock data. They updated their plan after hearing feedback, and now the SEC is deciding if these new fees are fair and should go live. If approved, this could change how much it costs to get stock info starting soon.
Previous / Next Documents
Previous: 2026-00792 — Agency Information Collection Activities; Submission for Office of Management and Budget Review; Comment Request; Warning Plans for Certain Tobacco Products
The FDA is asking for public feedback on a plan that tobacco companies must submit to show how they’ll randomly display health warnings on certain tobacco products. This helps make sure warnings are clear and fair, protecting people from tobacco risks. Comments are open until February 17, 2026, and this process keeps the rules up to date without extra costs for businesses.
Next: 2026-00794 — Codex Alimentarius Commission: Meeting of the Codex Committee on Food Additives
The U.S. is hosting a public meeting on March 3, 2026, to talk about food additives and get your feedback before the big Codex Committee meeting in China in April. This affects food makers, regulators, and anyone interested in food safety rules. Your input can help shape U.S. positions on important food additive standards that impact trade and public health.
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in