The IRS and Treasury have released a long-awaited 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 Retirement Enhancement Act (the...
On 11 February 2022, the European Securities and Markets Authority (ESMA) published its Sustainable Finance Roadmap for 2022-2024 (Roadmap), setting out ESMA's deliverables on sustainable finance and how they will be implemented during the period 2022-2024.
On 27 January 2022, the European Securities and Markets Authority (ESMA) published a consultation paper with proposed revisions to its current guidelines on suitability requirements under the Markets in Financial Instruments Directive (MiFID II), to reflect the upcoming sustainability...
On 2 February 2022, the European Commission published a second batch of frequently asked questions (FAQs) to provide additional implementation guidance on the Disclosures Delegated Act under Article 8 of EU Taxonomy Regulation.
On 17 December 2021, the UK Financial Conduct Authority (FCA) published final rules and guidance relating to the climate-related disclosure requirements for asset managers, life insurers, and FCA-regulated pension providers.
In response to Russia's invasion of Ukraine, the United States has imposed various sanctions against Russia and various Russian entities and individuals. This memorandum provides a summary of these actions as of February 25, 2022.
ICI's AML Compliance Working Group will hold a videoconference meeting via Zoom on Tuesday, March 22, from 2:00 p.m. to 3:30 p.m. ET. We encourage attendees to use the video option during the meeting. If you prefer not to use the Zoom platform, you may dial into the meeting.
On Thursday, February 17, ICI Global held a call with members to provide an update on the global landscape of regulatory developments related to sustainable finance and discussed strategic policy priorities.
We will hold a call on Thursday, March 3, 2022, at 3pm ET, to discuss the tax implications of the SEC's recent proposals regarding swing pricing and money market funds.
ICI Global held two workshops on 9 February and 16 February for members to discuss questions, approaches, and challenges to implementing new ESG-related requirements in Singapore and Hong Kong, respectively.
On Monday, February 22, President Biden issued an Executive Order on Blocking Property of Certain Persons and Prohibiting Certain Transactions With Respect to Continued Russian Efforts to Undermine the Sovereignty and Territorial Integrity of Ukraine and the Office of Foreign Assets...
The US District Court for the Southern District of New York last week held that certain closed-end funds' "control share" provisions impermissibly violate the Investment Company Act of 1940.
On February 9, the Securities and Exchange Commission proposed rules to 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").
The Investment Company Institute's Internal Sales Managers Roundtable will meet on Thursday, April 7, and Friday April 8, 2022, at ICI's offices on the 12th floor of 1401 H Street, NW, in Washington, DC.
As we previously reported, the Municipal Securities Rulemaking Board has issued a request for information (RFI) on environmental, social, and governance (ESG) practices in the municipal securities market. Responses to the RFI are due March 8, 2022.
On February 9, the Securities and Exchange Commission voted to propose new rules and amendments under the Investment Advisers Act of 1940 with respect to private fund advisers. The proposal passed by a vote of three-to-one. The proposal's goals are to improve private fund adviser...
A friendly reminder that next Wednesday, February 23, from 12:00-3:30 p.m. ET, ICI will hold a virtual members-only meeting of the SEC Rules Committee. We are pleased to have as our guest speakers Sarah ten Siethoff, Associate Director, Brian Johnson, Assistant Director, Nathan Schuur...
A joint meeting of the Accounting/Treasurers Committee and the Independent Accountants Advisory Group has been scheduled for Thursday, March 24, 2022. The meeting will be held via Zoom from 11:00 a.m. - 1:30 p.m. Eastern time.
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 March 21, 22, and 23 each from 12:00 - 1:30 p.m. Eastern.
On February 10, the SEC, by seriatim approval, proposed amendments to its rules governing beneficial ownership reporting on Schedules 13D and 13G ("Proposal"). Comments on the proposal are due the later of: (i) April 11, 2022 (60 days following the publication of the proposing release...
The U.S. Securities and Exchange Commission has published for comment proposed rules that will require registered investment companies, investment advisers, and business development companies to "adopt and implement written policies and procedures that are reasonably designed to...
On February 11, the Department of Labor (DOL) released a 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 associated with changes in climate.
