Man ETF Series Trust and Man Solutions LLC - Notice of Application for Exemption Under Investment Company Act
Summary
The SEC published a notice of an application by Man ETF Series Trust and Man Solutions LLC under section 6(c) of the Investment Company Act of 1940. The applicants seek exemption from section 15(a) of the Act and from certain disclosure requirements in rule 20a-1, Form N-1A, Schedule 14A, and Regulation S-X. If granted, the exemption would permit the applicants to enter into and materially amend subadvisory agreements without shareholder approval and would provide relief from fee disclosure requirements related to subadvisers.
“The requested exemption would permit Applicants to enter into and materially amend subadvisory agreements with subadvisers without shareholder approval and would grant relief from the Disclosure Requirements as they relate to fees paid to the subadvisers.”
What changed
Man ETF Series Trust and Man Solutions LLC filed an application with the SEC requesting exemption under section 6(c) of the Investment Company Act of 1940 from section 15(a) and various disclosure requirements in rule 20a-1, Form N-1A, Schedule 14A, and Regulation S-X. The requested exemption would allow the applicants to enter into and materially amend subadvisory agreements without obtaining shareholder approval, and would grant relief from fee disclosure requirements as they relate to subadviser compensation. The application was filed on March 4, 2026.
Investment advisers managing registered investment companies with subadvisory arrangements may wish to monitor this proceeding, as a favorable determination could establish precedent for similar exemption requests in the industry. Interested persons may request a hearing on the application by emailing the SEC's Secretary, with hearing requests due by 5:30 p.m. Eastern time on May 12, 2026.
Archived snapshot
Apr 21, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Notice
Man ETF Series Trust and Man Solutions LLC
A Notice by the Securities and Exchange Commission on 04/21/2026
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- Public Inspection Published Document: 2026-07751 (91 FR 21344) Document Headings ###### Securities and Exchange Commission
- [Investment Company Act Release No. 36092; 812-16001] April 17, 2026. # AGENCY:
Securities and Exchange Commission (“Commission” or “SEC”).
ACTION:
Notice.
Notice of an application under section 6(c) of the Investment Company Act of 1940 (“Act”) for an exemption from section 15(a) of the Act, as well as from certain disclosure requirements in rule 20a-1 under the Act, Item 19(a)(3) of Form N-1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and 22(c)(9) of Schedule 14A under the Securities Exchange Act of 1934, and sections 6-07(2)(a), (b), and (c) of Regulation S-X (“Disclosure Requirements”).
Summary of Application:
The requested exemption would permit Applicants to enter into and materially amend subadvisory agreements with subadvisers without shareholder approval and would grant relief from the Disclosure Requirements as they relate to fees paid to the subadvisers.
Applicants:
Man ETF Series Trust and Man Solutions LLC
Filing Dates:
The application was filed on March 4, 2026.
Hearing or Notification of Hearing:
An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing on any application by emailing the SEC's Secretary at Secretarys-Office@sec.gov and serving the Applicants with a copy of the request by email, if an email address is listed for the relevant Applicant below, or personally or by mail, if a physical address is listed for the relevant Applicant below. The email should include the file number referenced above. Hearing requests should be received by the Commission by 5:30 p.m., Eastern time, on May 12, 2026, and should be accompanied by proof of service on the Applicants, in the form of an affidavit, or, for lawyers, a certificate of service. Pursuant to rule 0-5 under the Act, hearing requests should state the nature of the writer's interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by emailing the Commission's Secretary.
ADDRESSES:
The Commission: Secretarys-Office@sec.gov. Applicants: Lisa Muñoz, Man ETF Series Trust, 1345 Avenue of the Americas, 21st Floor, New York, NY 10105, with a copy to: Clair E. Pagnano, Esq., K&L Gates LLP, One Congress Street, Boston, MA 02114.
FOR FURTHER INFORMATION CONTACT:
Rachel Loko, Senior Special Counsel, at (202) 551-6825 (Division of Investment Management, Chief Counsel's Office).
SUPPLEMENTARY INFORMATION:
For Applicants' representations, legal analysis, and conditions, please refer to Applicants' application, dated March 4, 2026, which may be obtained via the Commission's website by searching for the file number at the top of this document, or for an Applicant using the Company name search field on the SEC's EDGAR system. The SEC's EDGAR system may be searched at https://www.sec.gov/search-filings. You may also call the SEC's Office of Investor Education and Advocacy at (202) 551-8090.
For the Commission, by the Division of Investment Management, under delegated authority.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2026-07751 Filed 4-20-26; 8:45 am]
BILLING CODE 8011-01-P
Published Document: 2026-07751 (91 FR 21344)
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