Common
Investment company
Financial institution
Investment company
An investment company is a financial services company that specializes in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under the Investment Company Act of 1940. Investment companies invest money on behalf of their clients who, in return, share in the profits and losses. Investment companies are designed for long-term investment, not short-term trading. Investment companies do not include brokerage companies, insurance companies, or banks. In United States securities regulation, there are at least five types of investment companies: Open-End Management Investment Companies (mutual funds) Face-amount certificate companies: very rare Closed-End Management Investment Companies (closed-end funds) UITs (unit investment trusts): only issue redeemable units Exchange-traded funds (ETFs) In general, each of these investment companies must register under the Securities Act of 1933...
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