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Investment Company Act of 1940: Difference between revisions
Investment Company Act of 1940 (view source)
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A key piece of {{tag|US Legislation}} on the subject of {{tag|Investment Management}} and a partner to the {{tag|Investment Advisers Act}}, the {{tag|40 Act}} regulates the vehicles which can be used for investment management purposes. | A key piece of {{tag|US Legislation}} on the subject of {{tag|Investment Management}} and a partner to the {{tag|Investment Advisers Act}}, the {{tag|40 Act}} regulates the vehicles which can be used for investment management purposes. | ||
’[[40 Act fund]]s — aka [[mutual fund]]s are the American equivalent of {{t|UCITS}} funds | |||
Investment companies were still in their infancy in 1940. In order to instil investors' confidence in these companies and to protect the public interest from this new type of security, Congress passed the Investment Company Act. The new law set separate standards by which investment companies should be regulated. The act defined and regulated investment companies, including [[mutual funds]] (which were virtually undefined prior to 1940). | Investment companies were still in their infancy in 1940. In order to instil investors' confidence in these companies and to protect the public interest from this new type of security, Congress passed the Investment Company Act. The new law set separate standards by which investment companies should be regulated. The act defined and regulated investment companies, including [[mutual funds]] (which were virtually undefined prior to 1940). | ||