The staff of the SEC's Division of Investment Management recently issued guidance on computing standardized yield ("SEC Yield") for registered investment companies that invest significantly in Treasury Inflation-Protected Securities ("TIPS funds").
On August 16, 2022, ICI submitted a comment letter on the SEC's proposal for new disclosure requirements for investment companies and investment advisers.
IRS Notice 2022-33 announces a much-needed extension of the deadlines for amending retirement plans and IRAs to reflect provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), section 104 of the Bipartisan American Miners Act of 2019 (Miners...
The staff of the Securities and Exchange Commission recently issued a Staff Bulletin providing guidance on the application of standards of conduct relevant to broker-dealers and investment advisers in identifying and addressing conflicts of interest.
On August 8, the SEC proposed new rules to enhance the governance of SEC-registered clearing agencies, including requirements to reduce conflicts of interest among directors on clearing agencies' governing boards.
Last week, ICI filed the attached comment letter on the North American Securities Administrators Association's request for comment on proposed amendments to its Statement of Policy Regarding Real Estate Investment Trusts.
As you may recall, in June 2022, the Institute filed suit against the California Department of Financial Protection and Innovation (DFPI) to challenge the Department's authority to increase the notice filing fees it imposed on investment companies.
On 12 July 2022, Japan's Financial Services Agency (JFSA) published for public consultation a Code of Conduct for ESG Evaluation and Data Providers ("Draft Code of Conduct"), based on the recommendations of its technical committee on ESG evaluation and data providers ("Technical...
On 28 July 2022, the Monetary Authority of Singapore (MAS) published a circular on disclosure and reporting guidelines for retail ESG funds ("Circular"), following its industry consultation in January 2022.
ICI's response to the European Financial Reporting Advisory Group (EFRAG) on the European Sustainability Reporting Standards (ESRS) Exposure Drafts is attached.
The 2022 primary layout has been designed to "track" IRS Form 1099-DIV. The 2022 secondary layout provides a format for RICs to use in reporting various additional tax-related items.
On August 2, FINRA and the MSRB (the "self-regulatory organizations" or "SROs") each issued a request for comment on proposals to shorten the current timeframe for reporting transactions to TRACE and the RTRS, respectively, from generally no later than fifteen minutes after execution...
Attached is our response to the International Sustainability Standards Board (ISSB) Exposure Drafts for IFRS S1 General Requirement for Disclosure of Sustainability-related Financial Information, and IFRS S2 Climate-related Disclosures.
Last week, the State of Delaware adopted amendments to its Delaware Statutory Trust Act that, among other things, automatically subjects registered closed-end funds and business development companies traded on a national securities exchange or on the National Association of Securities...
On July 27, the Commodity Futures Trading Commission (CFTC) issued a rule proposal to amend derivatives clearing organizations (DCO) governance standards.
The Department of Labor's Employee Benefits Security Administration (EBSA) has released proposed amendments to Prohibited Transaction Class Exemption 84-14 ("PTE 84-14"), a longstanding exemption governing financial institutions acting as qualified professional asset managers (or...
In June, the US Department of the Treasury ("Treasury") issued a notice and request for information (RFI) on the possibility of additional post-trade transparency of data for secondary transactions in Treasury securities.
On July 26, William Birdthistle, Director of the SEC's Division of Investment Management, gave a speech on current issues and trends in investment management at the Practicing Law Institute Investment Management 2022 program.
Yesterday, the SEC's Division of Enforcement announced the settlement of enforcement actions it brought against three firms: two dually-registered as a broker-dealer and investment adviser and one broker-dealer.
The Investment Company Institute's Sales and Marketing Committee will meet on Thursday, September 22, 2022, at John Hancock Investment's offices located at 200 Berkeley St., in Boston, MA.
