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The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds.It was passed as a United States Public Law (Pub. L. 76–768) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1–80a-64.
Alfred Jaretzki Jr. (1892–1976) was an American lawyer and an expert on investment companies. Jaretzki helped draft the Investment Company Act of 1940 passed by the United States Congress. He later authored an article in a 1941 issue of Washington University Law Quarterly that details the elements of the law and reasons for its passage. [1]
A face-amount certificate company is an investment company which offers an investment certificate as defined by the United States Investment Company Act of 1940. In general, these companies issue fixed income debt securities that obligate the issuer to pay a fixed sum at a future date. They are generally sold on an installment basis. [1]
A major type of company not covered under the Investment Company Act 1940 is private investment companies, which are simply private companies that make investments in stocks or bonds, but are limited to under 250 investors and are not regulated by the SEC. [4] These funds are often composed of very wealthy investors.
August 22, 1940: Act of August 22, 1940, Pub. L. 76–768, 54 Stat. 789 (including Investment Company Act of 1940, Investment Advisers Act of 1940) September 16, 1940: Selective Training and Service Act of 1940 , Pub. L. 76–783 , 54 Stat. 885
The claim: Obama ‘repealed’ law blocking government propaganda. An Oct. 22 Facebook post (direct link, archive link) shows an image of former President Barack Obama signing a document in the ...
August 22, 1940: Act of August 22, 1940, ch. 686, Pub. L. 76–768, 54 Stat. 789 (including Investment Company Act of 1940, Investment Advisers Act of 1940) September 16, 1940: Selective Training and Service Act of 1940 , Pub. L. 76–783
Created by Section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the Exchange Act or the 1934 Act), the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002 ...