The Chinese Securities Regulatory Commission (CSRC) recently revised the regulatory framework governing the establishment and operation of public fund management businesses in China.
The Institute submitted the attached letter in response to the Internal Revenue Service's request for comments on IRS Form 8613 "Return of Excise Tax on Undistributed Income of Regulated Investment Companies."
Last week, ICI filed the attached amicus curiae ("friend of the court") brief with the United States Court of Appeals for the Second Circuit supporting a closed-end fund's right to use "control share" provisions.
As we informed you last week, the Institute recently filed suit against the California Department of Financial Protection and Innovation (DFPI) to challenge the Department's authority to change the manner in which it assesses notice filing fees on investment companies.
Attached for your review is a draft submission to the European Commission that responds to a public consultation regarding an initiative to develop an EU-wide withholding tax regime.
On May 9, the Commodity Futures Trading Commission (CFTC or "Commission") proposed amendments ("Proposal") to its swap clearing requirements reflecting the cessation of LIBOR and certain other IBORs and the transition to alternative reference rates (i.e., overnight, nearly risk-free...
The ICI filed its comment letter with the SEC responding to its proposal The Enhancement and Standardization of Climate-Related Disclosures for Investors.
The Internal Revenue Service (IRS) has requested comments concerning IRS Form 8613 "Return of Excise Tax on Undistributed Income of Regulated Investment Companies."
Last week the Institute filed a Complaint for Declaratory and Injunctive Relief against California's Department of Financial Protection and Innovation, which administers California's Blue Sky Law.
On June 10, ICI filed a comment letter on the SEC's proposed regime for the registration and regulation of security-based swap execution facilities (SBSEFs). The Proposal seeks to closely harmonize with analogous CFTC rules for swap execution facilities (SEFs), except in certain...
The next meeting of the Broker/Dealer Advisory Committee will take place on Wednesday, July 20 and Thursday, July 21, 2022, at the offices of Macquarie Investment Management located at 610 Market St, Philadelphia, PA 19106.
The next meeting of the Bank Trust, Retirement Advisory Committee will be held on Wednesday, August 10 from 1:00 p.m. to 5:00 p.m. ET and on Thursday, August 11 from 9:00 a.m. to 1:00 p.m. ET.
ICI Global submitted the attached response to selected survey questions from the European Commission's Targeted Consultation on the Functioning of the ESG Ratings Market in the European Union and on the Consideration of ESG Factors in Credit Ratings.
Notice 2022-21 invited public comment on recommendations for Treasury's 2022-2023 Priority Guidance Plan. ICI submitted the attached letter largely based on prior recommendations except for an addition regarding the active trade or business requirement under Section 355 of the...
ICI submitted the attached letter requesting that the Treasury Department and Internal Revenue Service include guidance on certain issues concerning retirement security on their 2022-2023 Priority Guidance Plan.
On May 25, 2022, the US Securities and Exchange Commission voted 3-1 to propose enhanced disclosures by certain investment advisers and investment companies about environmental, social, and governance (ESG) investment practices.
The agendas for the June 6-7, 2022, Virtual Tax Committee meetings are attached. You may register at https://cvent.me/XDEybG. The meetings will begin at 2:00 p.m. ET each day.
On April 6, the SEC proposed a regime for the registration and regulation of security-based swap execution facilities (SBSEFs). The Proposal seeks to closely harmonize with analogous CFTC rules for swap execution facilities (SEFs), except in certain instances.
On 27 May 2022, the China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC) (the "Regulators") announced the inclusion of exchange-traded funds (ETFs) into the Mainland-Hong Kong Stock Connect ("Stock Connect").
On May 25, the Commission issued a proposal for amendments to Investment Company Act of 1940 Rule 35d-1, which regulates fund names (the "Names Rule"), as well as associated rules and forms. The proposal passed by a vote of three-to-one.
On May 31, 2022, the Institute sent the attached comment letter to the Department of Labor (DOL) in response to its proposed amendments to the procedures governing the filing and processing of prohibited transaction exemption (PTE) applications.
Under the EU Capital Requirements Regulation (CRR), a banking organization must report to supervisory authorities its ten largest exposures to "shadow banking entities which carry out banking activities outside the regulated framework." The European Banking Authority (EBA) has...
