2026-05752NoticeWallet

SEC May Let ETF Trust Skip Shareholder Votes on Agreements

Published Date: 3/25/2026

Notice

Summary

The 2023 ETF Series Trust and Pictet Asset Management want permission to change their subadvisory agreements without asking shareholders every time and to skip some usual fee disclosures. This means they can act faster and keep some fee details private. If no one asks for a hearing by April 14, 2026, the SEC will likely approve these changes.

Analyzed Economic Effects

2 provisions identified: 0 benefits, 2 costs, 0 mixed.

Subadviser Changes Without Shareholder Approval

The 2023 ETF Series Trust and Pictet Asset Management asked the SEC for permission to enter into and materially change subadvisory agreements without getting shareholder approval. If no hearing is requested by April 14, 2026, the Commission will likely issue an order granting that relief.

Limited Disclosure of Subadviser Fees

The applicants requested relief from certain federal disclosure rules so they would not have to provide some of the usual disclosures about fees paid to subadvisers. That relief, if granted (absent a hearing by April 14, 2026), would affect what fee information shareholders of the named funds receive.

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Key Dates

Published Date
3/25/2026

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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