SEC notice on Wasatch Funds Trust and Wasatch Advisors' request for exemptive relief
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The SEC is considering a request from Wasatch Funds Trust and Wasatch Advisors LP to change how they use subadvisers. If approved, the firms could hire or materially change subadvisory agreements without getting shareholder approval, and they would also get relief from certain fee disclosure rules tied to those arrangements. This matters to fund investors and compliance teams because it could reduce the need for proxy votes and some related disclosure in fund filings. The public can still ask for a hearing by May 22, 2026.
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Key Changes
- Would let the applicants enter into and materially amend subadvisory agreements without shareholder approval
- Would waive certain SEC disclosure rules covering fees paid to subadvisers
- Gives the public a chance to request a hearing before the SEC decides
Obligations
What this law requires
Interested persons who request a hearing on the application must email the SEC Secretary, serve the Applicants with a copy of the request, include the SEC file number in the email, and attach proof of service (an affidavit or, for lawyers, a certificate of service).
A hearing request must state the writer's interest, facts bearing on the desirability of a hearing, the reason for the request, and the issues contested.
Persons who want to be notified of a hearing may request notification by emailing the Commission's Secretary.