User:Misha.spisok/sandbox

SEC Rule 17a-7 is an exemptive rule issued by the U.S. Securities and Exchange Commission pursuant to its regulatory authority under the US Investment Company Act of 1940 (also known as the "the Investment Company Act," "the 1940 Act," or "the '40 Act"). The rule permits purchase and sale transactions among affiliated companies or between an investment company and certain affiliated persons. The rule contains a number of eligibility requirements for cross trades, such as consideration only for cash payment, readily available market quotations, consistency with the investment company's policy, not charging commissions or fees, board procedures and approval of such transactions, fund governance standards, and maintenance of records.