Closed End Funds

Legal Regulation of U.S. Closed End Funds

According to the United States Securities and Exchange Commission (known as the SEC), a "closed end fund," legally known as a "closed end company," is a type of investment company. Closed end funds are subject to SEC registration and regulation, and are subject to numerous requirements imposed for the protection of investors.

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Closed end funds are regulated primarily under the Investment Company Act of 1940 and the rules adopted under that Act. Closed end funds are also subject to the Securities Act of 1933 and the Securities Exchange Act of 1934. You can find the definition of "closed end company" in Section 5 of the Investment Company Act.