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What does Investment Company Act of 1940 mean?

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Investment Company Act of 1940
(ICA)
Noun
SEC

The US federal securities law that regulates mutual funds and other companies that engage primarily in investing, reinvesting, and trading in securities, and whose own securities may be offered to the investing public, it requiring disclosure to the investing public about the fund, its investment objectives and its structure and operations.

Synonym(s): 
  • '40 Act; 1940 Act; Investment Company Act.
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