2026-05825NoticeWallet

Funds Dodge Shareholder Votes on Advisor Deals

Published Date: 3/25/2026

Notice

Summary

Pacer Funds Trust and Pacer Advisors want permission to change their subadvisory agreements without asking shareholders every time and to keep some fee details private. This means they can act faster and keep some info under wraps, but folks can ask for a hearing by April 17, 2026. If approved, it could speed up how these funds manage their advisors and fees.

Analyzed Economic Effects

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

Shareholder Vote Not Required For Subadvisers

The applicants ask permission to enter into and materially change subadvisory agreements without getting shareholder approval. If the SEC grants this exemption, the funds could make advisor or fee changes faster because they would not need to hold shareholder votes for those subadviser agreements.

Fee Disclosure Relief For Subadvisers

The applicants request relief from disclosure rules so that certain information about fees paid to subadvisers need not be disclosed. If approved, shareholders and investors may not receive full public breakdowns of fees paid to subadvisers under the affected disclosure rules.

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Key Dates

Effective Date
Published Date
2/11/2026
3/25/2026

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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