Series 6: 1.2.3. Investment Company Act Of 1940

Taken from our Series 6 Online Guide

1.2.3. Investment Company Act of 1940

An investment company is a company that is primarily engaged in the business of pooling people’s money and investing this money in a fund of securities. A mutual fund company, for example, issues securities funds and manages the purchase and sale of securities within that fund. The Investment Company Act of 1940 protects those who invest in investment company securities by requiring that all investment companies:

• Register with the SEC

• Prepare a prospectus stating the company’s investment objectives and financial conditions

• Submit annual reports to the SEC an

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