17 CFR 270.2a19-3
§ 270.2a19-3 Certain investment company directors not considered interested persons because of ownership of index fund securities.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
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- Citation
- 17 CFR 270.2a19-3, § 270.2a19-3 Certain investment company directors not considered interested persons because of ownership of index fund securities, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69919
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Full text
If a director of a registered investment company (“Fund”) owns shares of a registered investment company (including the Fund) with an investment objective to replicate the performance of one or more broad-based securities indices (“Index Fund”), ownership of the Index Fund shares will not cause the director to be considered an “interested person” of the Fund or of the Fund's investment adviser or principal underwriter (as defined by section 2(a)(19)(A)(iii) and (B)(iii) of the Act (15 U.S.C. 80a-2(a)(19)(A)(iii) and (B)(iii)).
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.