Today, ICI submitted the attached comment letter to the Treasury Department and IRS on the proposed regulations relating to the "unified plan rule" for multiple employer plans (MEPs).
The ICI has submitted the attached comments to the OECD regarding a financial services exclusion from the proposed "Pillar One" regime for allocating profits to market jurisdictions. Our submission urges that the financial services exclusion proposed on May 6, 2022 be modified to...
On May 27, ICI filed a comment letter on the Securities and Exchange Commission's (SEC or "Commission") proposed new rules that would further define the phrase "as part of a regular business," as used in the definitions of "dealer" and "government securities dealer" under Sections 3(a...
The ICI Research Committee video meeting on Zoom will take place, mid-day, over two days, June 8, 2022 (12:30 PM to 2:30 PM ET) and June 9, 2022 (12:30 PM to 2:30 PM ET).
On May 20, 2022, the federal agencies with authority over employer-sponsored benefit plans—the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC)—jointly released final revisions to the Form 5500 Annual Return/Report forms (and...
On May 24, the US Court of Appeals for the DC Circuit upheld the SEC's Market Data Infrastructure Rule. The final rule, which the SEC unanimously adopted in December 2020, expands the national market system ("NMS") market data content and replaces the exclusive securities information...
ICI sent the attached comment letter to the IRS and Treasury, responding to the notice of proposed rulemaking that would amend the regulations governing required minimum distributions (RMDs) from retirement plans and IRAs to reflect changes made by the Setting Every Community Up for...
In a settled enforcement action, the SEC charged an investment adviser for misstatements and omissions about environmental, social, and governance (ESG) considerations in making investment decisions for certain mutual funds that it managed.
On Wednesday, June 29, 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...
Recently, the Board of Governors of the Federal Reserve System ("FRB") issued their annual Financial Stability Report. The report presents the FRB's assessment of the resilience of the US financial system.
Recently, Treasury Secretary Janet Yellen testified about the Financial Stability Oversight Council (FSOC) 2021 Annual Report before the Senate Banking, Housing, and Urban Affairs Committee (on May 10) and the House Financial Services Committee (on May 12).
[34149] May 20, 2022 TO: Accounting Policy Subcommittee RE: Accounting Policy Subcommittee Meeting - June 27, 28, and 29 Due to COVID-19 concerns, our upcoming Accounting Policy Subcommittee will take place on Zoom. We will break the meeting up into three sessions on June 27, 28, and...
On Thursday, June 2, at 12:00 p.m. ET, ICI will hold a virtual members-only meeting of the Derivatives Markets Advisory Committee. The meeting will end no later than 2:30 p.m. ET.
Registration for the June 6-7, 2022 Virtual Tax Committee meetings is now open at https://cvent.me/XDEybG. The meetings will begin at 2:00 p.m. ET each day. Agendas for the meetings will be circulated in the coming weeks.
In Notice 2022-27, the Internal Revenue Service (IRS) announced further extension of the temporary relief from the physical presence requirement for notarization of spousal consent (and other participant elections) previously provided in Notices 2021-40, 2021-03 and 2020-42.
Notice 2022-23 invites public comment on recommendations for Treasury's 2022-2023 Priority Guidance Plan. The attached draft letter is largely based on prior recommendations except for an addition regarding the active trade or business requirement under Section 355 of the Internal...
On 29 April 2022, the China Securities Regulatory Commission (CSRC) released for public consultation the Measures for the Administration of Cybersecurity Relating to the Securities and Futures Industry (Draft for Comments) ("Draft Measures").
ICI's AML Compliance Working Group will hold a videoconference meeting via Zoom on Tuesday, June 21, from 2:00 p.m. to 3:30 p.m. ET. We encourage attendees to use the video option during the meeting.
On May 9, the Commodity Futures Trading Commission (CFTC) proposed amendments to its swap clearing requirements reflecting the cessation of LIBOR (and other IBORs) and transition to alternative reference rates.
As we previously informed you, on April 12 the European Commission (Commission) published a targeted consultation on the functioning of the Money Market Fund Regulation (MMFR), which has been fully applicable since January 2019.
On May 13, we submitted a letter to Andrea Gacki, the Director of the Office of Foreign Assets Control (OFAC), regarding the Russia sanctions. In the letter, we requested that OFAC amend General License No. 9C (GL 9C) to the Russian Harmful Foreign Activities Sanctions Regulations...
On May 12, 2022, the Institute sent the attached comment letter to the Department of Labor (DOL) in response to its Request for Information (RFI) seeking public comment on what actions, if any, DOL should take under federal law to protect retirement savings and pensions from risks...
