SEC Issues Notice on Wasatch Multi-Class ETF Exemption Request

The Securities and Exchange Commission published a notice of an application under section 6(c) of the Investment Company Act of 1940 for an exemption from sections 2(a)(32), 5(a)(1), 18(f)(1), 18(i), 22(d), 22(e) and rule 22c-1, as well as sections 17(a)(1) and 17(a)(2). The applicants are Wasatch Funds Trust and Wasatch Advisors LP (Investment Company Act Release No. 36332; File No. 812-16051).

The applicants request an order that would permit a registered open-end management investment company to offer one class of exchange-traded shares that operates as an exchange-traded fund (ETF Shares) and one or more classes of non-exchange-traded shares (Mutual Fund Shares). The proposed "Multi-Class ETF Fund" would receive two categories of relief: ETF operational relief consistent with Rule 6c-11 and ETF class relief allowing the coexistence of ETF and mutual fund share classes.

The original application was filed on July 8, 2026, and an amended application was filed on September 10, 2026. Interested persons may request a hearing by emailing the SEC's Secretary and serving the applicants, with requests required by 5:30 p.m., Eastern time, on October 13, 2026. The request must include proof of service and state the nature of the requester's interest, relevant facts, and the issues contested.

The amended application can be obtained from the SEC's website by searching the file number or the company name on the EDGAR system. For further information, contact Trace W. Rakestraw, Senior Special Counsel, at (202) 551-6825.

Unless the Commission orders a hearing, an order granting the requested relief will be issued.