RS Legacy Corp. (fka RSHCQ)

[LouisDesyjr]

Vanguard Fiduciary Trust Company, as a manager for others

It looks like from the filing, and what I could find about collective investment funds, that Vanguard is reporting on a collection of trust accounts at its company. I expect the trust accounts may be under the control and direction of other people.

http://www.occ.gov/topics/capital-markets/asset-management/collective-investment-funds/index-collective-investment-funds.html
Talks about rules for collective investment funds. It looks like a way to simplify reporting requirements so reports do not have to be filed on every single account.

The main take away seems to be is that while that shares are on account at a Vanguard subsidiary, the shares are not voted by Vanguard and Vanguard does not have total control on when to sell or buy the shares. I expect that would be up to the trustee of each account.

Louis J. Desy Jr.