SEC Eyes Skipping Shareholder Votes for Faster Fund Tweaks
Published Date: 3/19/2026
Notice
Summary
The RBB Fund Trust and M.D. Sass, LLC want permission to change their subadviser contracts without asking shareholders every time. They’re also asking to skip some usual fee disclosures to make things simpler. If no one objects by April 13, 2026, the SEC will likely say yes, which could speed up how these funds manage their money.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Subadviser Contracts Without Shareholder Vote
The RBB Fund Trust and M.D. Sass, LLC ask the SEC for permission to enter into and materially change subadvisory agreements without getting shareholder approval. The application was filed on January 27, 2026, and an order granting relief will be issued unless the SEC orders a hearing; hearing requests must be received by April 13, 2026.
Reduced Fee Disclosure for Subadvisers
The applicants seek relief from certain disclosure requirements about fees paid to subadvisers, including rules under rule 20a-1, Item 19(a)(3) of Form N-1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and 22(c)(9) of Schedule 14A, and parts of Regulation S-X. This would mean investors might not receive the usual fee disclosures tied to subadviser arrangements.
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
2026-06367 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Proprietary Market Data Fees
The New York Stock Exchange is updating its fees for special market data called NYSE BBO and Trades Digital Media Enterprise Fees. These changes affect subscribers who get this data, and the new fees take effect right away. If you use or pay for this data, expect some updates to your bill starting now!
2026-06339 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Equities Proprietary Market Data Fees
NYSE Arca is updating its market data fees to add a new Digital Media Enterprise Fee for BBO (best bid and offer) data and extend this fee to current BBO and Trades Enterprise Fee subscribers. This means companies using NYSE Arca’s proprietary market data might see changes in their billing starting immediately. If you rely on this data, keep an eye on your fees and plan accordingly!
2026-06357 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Its Expanded Co-Location Services
Starting April 1, 2026, Nasdaq is rolling out new fees for its bigger and better co-location services at its Carteret, NJ data center. Traders and firms using these expanded spaces will see updated pricing to match the extra space and tech perks. This change helps Nasdaq keep up with demand and improve trading speed, so get ready to budget for these fresh fees!
2026-06361 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Short Term Options Series Program
NYSE American is updating its Short Term Options Series Program to allow options that expire on Mondays and Wednesdays—up to two of each—for certain stocks and ETFs. This change means traders get more flexible and frequent choices to buy or sell options, starting right away with no extra fees. If you trade options, this new schedule could help you make smarter moves faster!
2026-06337 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Short Term Options Series Program
NYSE Arca is updating its Short Term Options Series Program to allow options on certain stocks and ETFs to expire on up to two Mondays and two Wednesdays. This means traders get more flexible and frequent choices for their options, helping them manage risk and opportunities better. The change is effective immediately, so the market can start using these new expiration days right away.
2026-06343 — Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Its Expanded Co-Location Services
Starting April 1, 2026, Nasdaq MRX is rolling out new fees for its bigger and better co-location services at its Carteret, NJ data center. Traders and firms using these upgraded spaces will see updated pricing to match the expanded offerings. This change helps Nasdaq MRX keep up with demand and improve service speed for everyone involved.
Previous / Next Documents
Previous: 2026-05433 — Megacorn Fund and Forge Global Advisors LLC
Megacorn Fund and Forge Global Advisors want permission to offer different types of shares in their investment funds and charge fees based on assets or early withdrawals. This change could affect investors by giving them more options but also new fees. If no one asks for a hearing by April 13, 2026, the SEC will likely approve it.
Next: 2026-05435 — Center for Scientific Review; Notice of Closed Meetings
The Center for Scientific Review is holding several closed virtual meetings in April 2026 to review and evaluate grant applications in areas like gastroenterology, cardiovascular biology, and neurological disorders. These meetings protect private info and trade secrets, so they’re not open to the public. Researchers and grant applicants should note these dates as they impact funding decisions but don’t involve new costs or deadlines.
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