The three European Supervisory Authorities (ESAs) published a Call for Evidence on greenwashing to gather input from stakeholders on how to understand the key features, drivers and risks associated with greenwashing and to collect examples of potential greenwashing practices. Comments...
Please join us for the next meeting of the Global Regulated Funds Committee taking place virtually on, Friday, December 9, from 10:00 a.m. - 11:30 a.m. (ET) / 3:00 p.m. - 4:30 p.m. (GMT) / 4:00 p.m. - 5:30 p.m. (CET).
On September 14, the SEC proposed rules ("Proposal") that would mandate the clearing and settlement of certain secondary market transactions in US Treasury securities in which one of the counterparties is a direct participant of a covered clearing agency for such securities ("Treasury...
The Internal Revenue Service (IRS) issued Notice 2022-62, providing the 2022 Required Amendments (RA) List for certain individually designed retirement plans. Beginning with the RA List from 2019, the annual RA List applies to both individually designed retirement plans qualified...
The IRS and Treasury Department have released their 2022–2023 Priority Guidance Plan listing their priorities for tax regulations and other administrative guidance through June 2023.
On Wednesday, December 7, from 12:00–3:30 pm ET, ICI will hold a members-only meeting of the SEC Rules Committee. We will hold the meeting in person in Washington, DC, with the option to participate virtually. For members attending the meeting in person, we will hold a happy hour...
Each year, ICI conducts a survey of US households to track households' ownership of mutual funds and to gather information on their demographic and financial characteristics. The most recent survey was conducted from May to June 2022 and was fielded on the KnowledgePanel®, a...
We are pleased to inform you that the next meeting of the Global Regulated Funds Committee will be held virtually on, Friday, December 9, from 10:00 – 11:30 a.m. US Eastern / 3:00 – 4:30 p.m. GMT / 4:00 – 5:30 p.m. CET. A preliminary agenda will be provided shortly.
The Department of Labor (DOL) has released proposed updates to its Voluntary Fiduciary Correction Program (VFCP), which is designed to encourage the voluntary correction of fiduciary violations by allowing plan fiduciaries to avoid civil penalties and excise taxes by voluntarily...
On October 13, the International Organization of Securities Commissions (IOSCO) released a survey on index providers directed at asset managers and index providers, focused on examining the nature of the interactions between these two parties.
SEC Commissioner Mark Uyeda delivered remarks at a recent Cato Institute conference focusing on the rise of environmental, social, and governance (ESG) investing and the future of financial regulation. His remarks are summarized below.
Commissioner Peirce recently delivered fund-related remarks, highlighting that each fund "is distinct from their investors, their asset managers, and the other funds in the same complex but that too often, funds' interests are treated as being identical to those of their...
This memorandum catalogues significant ESG related developments that have occurred since April 11, 2022. It references ICI memoranda that provide a more fulsome description of each matter. You can find all of these memoranda on our website in our ESG Resource Center.
On November 10, the Financial Stability Board (FSB) issued a progress report on work to enhance the resilience of non-bank financial intermediation (NBFI). The FSB's NBFI work program, first published as part of its Holistic Review of the March Market Turmoil in November 2020, spans...
In September, ICI and several other trade organizations submitted the attached letter to the Department of Labor (DOL) expressing concern regarding DOL’s use of subpoena power to collect vast amounts of retirement plan participants’ confidential, personally identifiable information...
As we previously informed you, on October 13, the International Organization of Securities Commissions (IOSCO) released a survey on index providers directed at asset managers and index providers, focused on examining the nature of the interactions between these two parties. Responses...
On Wednesday, December 7, from 12-3:30 pm ET, ICI will hold a members-only meeting of the SEC Rules Committee. We plan to hold the meeting in person in Washington, DC, with the option to participate virtually. For members attending the meeting in person, we plan to hold a happy hour...
The 2022 Primary Layout and Instructions have been updated to account for the new "FATCA filing requirement" checkbox that has been assigned box number 11. Subsequently, Form 1099-DIV box numbers 11 through 15 have been renumbered 12 through 16, respectively.
On November 2, 2022, by a 3-2 vote, the SEC approved a proposal that would: amend Rule 22e-4 (the "liquidity rule"), which applies to open-end funds; require mutual funds to adopt swing pricing; and change all Form N-PORT filers' reporting obligations
On 25 October, the UK Financial Conduct Authority (FCA) issued a Consultation Paper on Sustainability Disclosure Requirements (SDR) and Investment Labels. Comments on the proposal are due on 25 January 2023. The proposal notes that the FCA intends to issue final rules by the end of...
ICI recently filed the attached amicus brief in Matney v. Barrick Gold, urging the 10th Circuit Court of Appeals to affirm the district court's dismissal of a retirement plan fee case. The brief addresses a number of the same issues ICI has addressed in other recent amicus...
The next meeting of the ETF Committee will take place via Zoom teleconference on Tuesday, December 6. The meeting will begin promptly at 2 p.m. ET and should end no later than 4 p.m. ET.
