n March 28, the Securities and Exchange Commission (SEC or "Commission") proposed new rules ("Proposal") 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)(5) and 3(a)(44)...
ICI has submitted the attached letter to the Treasury Department and the Internal Revenue Service (IRS) requesting clarification that regulated investment companies (RICs) can satisfy the "active trade or business requirement" under section 355(b)(1) with respect to their business of...
The next meeting of the Investment Company Institute's Series Trust Advisory Committee will be held on Thursday June 9, 2022, 11:00 am-12:00 pm ET via Zoom.
The next meeting of the Investment Company Institute's Small Funds Sales & Marketing Sub-Committee "Shop Talk" will be held on June 9th from 1:00 - 2:00 ET via Zoom.
Earlier today, ICI filed the attached comment letter in response to a FINRA regulatory notice expressing concerns associated with the sale of complex products and options to retail investors, and soliciting comment on related practices and potential rule enhancements.
In April, the International Organization of Securities Commissions (IOSCO) issued a discussion paper on the corporate bond markets, focusing on their experiences during the COVID-19 induced market stress of March 2020.
The SEC recently re-proposed rules that would create a regime for the registration and regulation of security-based swap execution facilities (SBSEFs).
ICI submitted a comment letter on April 21 to the US Department of Justice Antitrust Division (DOJ) and the Federal Trade Commission (FTC) in response to their Request for Information (RFI) on the merger guidelines.
ICI has filed the attached comment letter with the SEC on its recent Private Funds Advisers proposal. The letter addresses proposed amendments to the Investment Advisers Act that would, among other things, require investment advisers to prepare a quarterly statement disclosing private...
In March, FINRA issued a regulatory notice expressing concerns associated with the sale of complex products and options to retail investors, and soliciting comment on related practices and potential rule enhancements.
The US Government Accountability Office (GAO) published a report on 403(b) plans entitled: "403(b) Investment Options, Fees, and Other Characteristics Varied" (the "Report").
ICI has filed the attached comment letter with the SEC on its Government Securities ATS and "Exchange" Definition rule proposal. The letter addresses proposed amendments to Rule 3b-16, which would, among other things, deem a "communication protocol system" to be within the definition...
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.
This memorandum catalogues significant ESG related developments that have occurred since February 8, 2022. It references ICI memoranda that provide a more fulsome description of each matter.
On 31 March 2022, the International Sustainability Standards Board (ISSB) launched a consultation on its first two proposed IFRS Sustainability Disclosure Standards.
On March 28, the Securities and Exchange Commission (SEC or "Commission") proposed new rules ("Proposal") 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)(5) and 3(a)(44)...
Attached for your review is a draft letter to the Treasury Department and the Internal Revenue Service (IRS) requesting clarification that regulated investment companies (RICs) can satisfy the "active trade or business requirement" under section 355(b)(1) with respect to their...
On March 30, the SEC proposed a package of new rules and amendments related to special purpose acquisition companies (SPACs). The proposal is intended to enhance investor protections in initial public offerings (IPOs) by SPACs and in subsequent business combination transactions...
As we previously reported, the Department of Labor (DOL) recently issued Compliance Assistance Release No. 2022-01 (the "Release"), providing guidance for 401(k) plan fiduciaries regarding plan investments in cryptocurrencies and similar types of digital assets.
ICI recently filed a comment letter on the SEC proposal that would shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date ("T+2") to one business day after the trade date ("T+1").
