2026-01791Notice

Multi-Class ETF Fund Exemptive Relief Under the Investment Company Act of 1940

Published Date: 1/29/2026

Notice

Summary

The SEC is giving special permission to certain investment funds so they can offer both exchange-traded shares (like ETFs) and regular mutual fund shares all in one fund. This change helps fund managers run smoother, more flexible funds that can attract different types of investors. If you want to speak up, you have until February 23, 2026, to request a hearing before the new rules take effect.

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Funds Allowed Both ETF and Mutual Classes

The SEC is considering orders that would let a registered open-end management fund offer one class of exchange-traded shares (an ETF Class) and one or more classes that are not exchange-traded (Mutual Fund Classes) within the same fund. The Orders would provide relief to allow standard ETF operations consistent with Rule 6c-11 and additional relief to permit the ETF Class and Mutual Fund Classes to coexist in a Multi-Class ETF Fund.

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Key Dates

Published Date
1/29/2026

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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