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.]

[Blacks Law 8th]