{"data":{"id":"us/17-cfr-270.12d1-3","jurisdiction":"us","citation":"17 CFR 270.12d1-3","heading":"d1-3 Exemptions for investment companies relying on section 12(d)(1)(F) of the Act.","body":"(a) Exemption from sales charge limits. A registered investment company (“acquiring fund”) that relies on section 12(d)(1)(F) of the Act (15 U.S.C. 80a-12(d)(1)(F)) to acquire securities issued by an investment company (“acquired fund”) may offer or sell any security it issues through a principal underwriter or otherwise at a public offering price that includes a sales load of more than 1 1/2 percent if any sales charges and service fees charged with respect to the acquiring fund's securities do not exceed the limits set forth in FINRA Rule 2341 applicable to a fund of funds.\n(b) Definitions. For purposes of this section, the terms fund of funds, sales charge, and service fee have the same meanings as in FINRA Rule 2341(b).","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 270—RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"06740c4658353e305d63b2a453c440abbfcabff413e9b2e130e8340b5cbec52a","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-270.12d1-2","next":"us/17-cfr-270.12d1-4"},"notice":"GroundRules: Original legal text. Not legal advice."}