Investment Company Act of 1940

Investment Company Act of 1940

Acronyms (colloquial)	'40 Act
Citations
Public law	Pub. L. 76–768
Statutes at Large	54 Stat. 789
Codification
U.S.C. sections created	15 U.S.C. §§ 80a-1–80a-64
Major amendments
Dodd-Frank Act of 2010
United States Supreme Court cases
Jones v. Harris Associates

The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law (Pub. L. 76–768) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1–80a-64. Along with the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, and extensive rules issued by the U.S. Securities and Exchange Commission; it is central to financial regulation in the United States. It has been updated by the Dodd-Frank Act of 2010. It is the primary source of regulation for mutual funds and closed-end funds, now a multi-trillion dollar investment industry.^[1] The 1940 Act also impacts the operations of hedge funds, private equity funds and even holding companies.