---
schema_version: "secwatch.filing_event.v1"
accession: "0001445546-23-004069"
form_type: "8-K"
ticker: null
cik: "0001392994"
company_name: "FIRST TRUST SPECIALTY FINANCE & FINANCIAL OPPORTUNITIES FUND"
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T17:48:33.241319+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Board rescinds control-share by-laws for 14 First Trust closed-end funds

## Summary
- Rescinds Article XII control-share provisions effective June 22, 2023; removes voting restrictions on large share acquisitions.
- Affects 14 funds including FGB (First Trust Specialty Finance and Financial Opportunities Fund) and others listed in the press release.
- Amended and restated by-laws filed; prior control share acquisitions no longer subject to voting limitations.
- No financial impact; governance change only.

## SEC filing metadata
- accession: 0001445546-23-004069
- form_type: 8-K
- cik: 0001392994
- company_name: FIRST TRUST SPECIALTY FINANCE & FINANCIAL OPPORTUNITIES FUND
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1392994/000144554623004069/0001445546-23-004069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1392994/000144554623004069/fgb_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001445546-23-004069
- JSON: https://secwatch.observer/filing/0001445546-23-004069.json
- Plain text: https://secwatch.observer/filing/0001445546-23-004069.txt

## Key facts
- Governance Changes
  FIRST TRUST SPECIALTY FINANCE & FINANCIAL OPPORTUNITIES FUND: Rescinded Article XII control share provisions and made other conforming amendments to the Amended and Restated By-Laws (effective 2023-06-22).
  - Change: bylaw amendment
  - Effective: 2023-06-22
  source text: On June 22, 2023, the Board of Trustees of First Trust Specialty Finance and Financial Opportunities Fund amended and restated its existing Amended and Restated By-Laws (and as so amended and restated, the “By-Laws”), effective immediately. The By-Laws were revised to rescind Article XII and its accompanying control share provisions, along with other conforming amendments.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1392994/000144554623004069/0001445546-23-004069-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.