Federal Register #Investment Company Act Release No. 36300, 812-16062

SEC Regulatory Notice: Exemption Application by Valued Advisers Trust and Alaia Capital, LLC

This opportunity involves a regulatory notice from the Securities and Exchange Commission (SEC) regarding an exemption application: - Government buyer: - Securities and Exchange Commission (SEC) - OEMs and vendors mentioned: - Valued Advisers Trust - Alaia Capital, LLC - Products/services requested: - No products or services are being procured; the notice concerns investment management agreements and disclosure requirements - Unique or notable requirements: - Exemption sought under section 6(c) of the Investment Company Act of 1940 - Relief from section 15(a) and certain disclosure requirements, including rule 20a-1, 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, and sections 6-07(2)(a), (b), and (c) of Regulation S-X - Would permit applicants to enter into and amend subadvisory agreements with subadvisers without shareholder approval - Would grant relief from disclosure requirements related to fees paid to subadvisers - No procurement activity or contract award is involved; this is a regulatory action

Description

This notice pertains to an application filed by Valued Advisers Trust and Alaia Capital, LLC with the Securities and Exchange Commission (SEC) for an exemption under the Investment Company Act of 1940. The exemption would allow the applicants to enter into and materially amend subadvisory agreements without shareholder approval and provide relief from certain disclosure requirements related to fees paid to subadvisers. The application was filed on July 24, 2026, and the SEC may issue an order granting the requested relief unless a hearing is requested by September 11, 2026. Interested parties may request a hearing by contacting the SEC Secretary and serving the applicants accordingly.

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