Series 65: 8.4 Investment Company Act Of 1940

Taken from our Series 65 Online Guide

8.4 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 funds of securities and manages the purchase and sale of securities within those funds.

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 investm

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