SEC accepts exemption request from Valued Advisers Trust and Alaia Capital
The request, filed July 24, 2026, seeks to waive shareholder-approval and disclosure rules for subadvisory agreements, pending a hearing deadline of Sept. 11, 2026.
The Securities and Exchange Commission issued a notice of an application under section 6(c) of the Investment Company Act of 1940 for an exemption from section 15(a) of the Act and from certain disclosure requirements. The applicants are Valued Advisers Trust and Alaia Capital, LLC.
If granted, the exemption would permit the applicants to enter into and materially amend subadvisory agreements without shareholder approval and would relieve them of the disclosure obligations in 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.
The Commission will issue an order granting the relief unless a hearing is ordered. Interested persons may request a hearing by emailing the SEC's Secretary and serving the applicants, with proof of service, no later than 5:30 p.m., Eastern time on September 11, 2026.
The application was filed on July 24, 2026; the notice is dated August 17, 2026; and the filing appears as FR Doc No. 2026-16934, Investment Company Act Release No. 36300; 812-16062. Contact information for the applicants and SEC staff is provided in the notice.