Investment Company Act of 1940
Definition
Legislation that requires investment companies to register with the SEC and that outlines standards by which they must operate.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Covenant defeasance
Covenant defeasance allows the issuer to remove the bond's covenants by placing the remaining payments with a trustee in escrow to be paid out on schedule.
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