investment company act

Investment Company Act. A 1940 federal statute enacted to curb financial malpractices and abuses by regulating investment-company activities and transactions — specifically, by requiring registration of investment companies and prohibiting transactions by unregistered companies; by making certain persons ineligible as affiliated persons or underwriters; by regulating affiliations of directors, officers, and employees; by barring changes in investment policy without shareholder approval; and by regulating contracts of advisers and underwriters.15 USCA §§ 80a-1 et seq. [Cases: Securities Regulation 211–222. C.J.S. Securities Regulation §§ 332–359.]

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词条贡献者

双语律师Julie，国际知名法学院法律专业，擅长翻译各类与证券监管、合规与执法相关的法律文件。