SEC Notice on Franklin Lexington Private Markets Fund Share Class Application
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
Allows the SEC to consider a request from several Franklin Templeton-linked closed-end funds and advisers to use multiple share classes, early withdrawal charges, and asset-based distribution or service fees. The request applies to named private markets, lending, infrastructure, private credit, and real estate income funds. No approval has been issued yet. The SEC says it will grant the request unless it orders a hearing, and interested parties must ask for a hearing by May 26, 2026.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- The SEC is considering permission for named closed-end funds to issue multiple share classes.
- The funds seek approval to charge early withdrawal fees and asset-based distribution or service fees.
- Interested parties have until May 26, 2026, to request a hearing before the SEC acts.
Obligations
What this law requires
Any interested person requesting a hearing on the SEC application must email the hearing request to the SEC Secretary at [email protected] and include the application file number 812-16003.
Any interested person requesting a hearing must serve the Applicants with a copy of the hearing request by email if an email address is listed for the relevant Applicant, or personally or by mail if a physical address is listed.
Any interested person requesting a hearing must accompany the hearing request with proof of service on the Applicants, in the form of an affidavit or, for lawyers, a certificate of service.
Any interested person requesting a hearing must state in the request the nature of the requester’s interest, facts bearing on the desirability of a hearing, the reason for the request, and the issues contested.
Any person who wants to be notified of a hearing must request notification by emailing the SEC Secretary.