Series 14: 1.3. Investment Company Act Of 1940

Taken from our Series 14 Online Guide

1.3. Investment Company Act of 1940

An investment company is a company that sells shares in itself so that it can use the proceeds to invest in other securities. The most common type of investment company is a mutual fund. The Investment Company Act of 1940 protects those who invest in investment company shares by requiring that all investment companies:

• Register with the SEC

• Prepare a prospectus stating the company’s investment object

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