The ICI Global Retirement Savings Committee operates on two tracks—Atlantic and Pacific—and any committee member may participate in all meetings and calls. The purpose of this memo is to provide the agenda and registration information for the Pacific Track of the ICI Global Retirement...
On 10 June 2021, the Standing Committee of the National People's Congress (NPC), China's top legislative authority, enacted the Data Security Law of the People's Republic of China (DSL). The DSL will take effect on 1 September 2021.
On August 16, 2021, the European Commission published final regulatory technical standards (RTS) on the contractual recognition of stay powers under the European Bank Recovery and Resolution Directive (BRRD). Now that the RTS have been adopted and published in the Official Journal of...
On August 18, the Securities and Exchange Commission, pursuant to delegated authority, issued an order ("Order") disapproving the New York Stock Exchange's (NYSE) proposed rule change on maximum fees to be charged by member organizations for forwarding proxy and other materials to...
The UK Financial Conduct Authority (FCA) continues its work to finalize the implementation of the investment firms prudential regime (IFPR), a new regime for investment firms authorized under the Markets in Financial Instruments Directive (MiFID). ICI Global's advocacy efforts have...
On July 20, 2021, the UK Government announced that the National Security and Investment Act 2021 (NSI Act) will come into force on January 4, 2022. The NSI Act comprehensively reforms the United Kingdom's foreign investment rules by creating a new self-standing investment review...
Attached for your reference is our response to IOSCO's Recommendations on Sustainability Related Practices, Policies, Procedures, and Disclosure in Asset Management.
As you know, the Financial Stability Board (FSB) issued its Consultation Report seeking comments on policy proposals to enhance money market fund resilience, including with respect to the appropriate structure of the sector and of underlying short-term funding markets. The proposals...
On August 5, 2021, in response to a request from ISDA and SIFMA, the SEC's Division of Trading and Markets ("Division") granted no-action relief to nonbank security-based swap dealers (SBSDs) from the compliance date under Rule 18a-3(c)(1)(ii)(B) under the Securities Exchange Act of...
ICI's Diversity and Inclusion Committee will have a video conference meeting via Zoom on Tuesday, September 14, 2021, from 2:00-3:00 p.m. (ET). Meeting registration is available at https://cvent.me/34n5y7. An agenda will be provided prior to the meeting date.
Attached is an agenda for our member call on the IOSCO's Consultation Paper, "ESG Ratings and Data Product Providers", which will take place on Thursday, 12 August 2021, 16:00 BST/11:00 EDT. Zoom call details have been provided in the call invite.
The Advertising Compliance Advisory Committee will have its next quarterly conference call on Wednesday, September 1, from 2:00-3:30 p.m. Eastern Time. You can register for that call here: https://cvent.me/n9m7wr.
On August 6, 2021, the IRS posted an announcement on its website pertaining to the Form 5500 filing requirements for retroactively adopted plans under section 201 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act).
On August 6, the Securities and Exchange Commission issued an order approving Nasdaq's proposed rule changes on diverse representation on corporate boards and associated reporting for companies listed on its exchange. With these new rules, Nasdaq aims to provide consistent, comparable...
This memorandum catalogues significant ESG related developments that have occurred since the beginning of June. It references ICI memoranda that provide a more fulsome description of each matter. You can find all of these memoranda on our website in our ESG Resource Center.
On 12 August, at 16:00 BST/11:00 ET, we will host a call to discuss ICI's response to the IOSCO's consultation report on the ESG Ratings and Data Products Providers. A calendar invite with Zoom information was sent to the ESG Task Force and EU ESG Disclosure Regulation Working Group.
The CFA Institute has published an Exposure Draft of Verification Procedures for CFA Institute ESG Disclosure Standards for Investment Products (Verification Procedures Exposure Draft). The Verification Procedures Exposure Draft builds on a May 2021 Exposure Draft of CFA Institute...
Attached is a memorandum summarizing the IOSCO's consultation on "ESG Ratings and Data Products Providers", and Appendix to the Memorandum with "Detailed Overview of the IOSCO's Recommendations", with the corresponding Consultation Paper's questions for each recommendation. The...
On July 19, the European Securities and Markets Authority (ESMA) published a consultation paper with draft guidelines on certain aspects of the MiFID II remuneration requirements (Consultation Paper), with comments due by October 19, 2021. ESMA expects to publish a final report, and...
The Treasury Department of the Australian Government (Treasury) is evaluating the operation of its recently adopted foreign investment reforms that went into effect on January 1, 2021. As part of the evaluation, which is required to be completed by December 10, 2021, the Treasury is...
On July 21, 2021, SEC Chair Gary Gensler made a speech at the American Bar Association Derivatives and Futures Law Committee Virtual Mid-Year Program. Gensler's speech highlighted the Securities and Exchange Commission's agenda regarding security-based swaps (SBSs). Highlights of the...
ICI's Sales and Marketing Committee will hold a videoconferencing meeting via Zoom on Thursday, September 23. The first session will run from 10:15 to approximately 11:45 a.m. (ET). We will then have a 30-minute break, followed by 40 minutes for optional breakout sessions designed to...
As you know, the Financial Stability Board (FSB) issued its Consultation Report (Report) seeking comments on policy proposals to enhance money market fund resilience, including with respect to the appropriate structure of the sector and of underlying short-term funding markets. The...
The Internal Revenue Service (IRS) recently published Revenue Procedure 2021-30, which modifies and supersedes Rev. Proc. 2019-19, the prior consolidated statement of the correction programs under the Employee Plans Compliance Resolution System (EPCRS). EPCRS permits retirement plan...
On Monday 2 August 2021, ICI Global submitted its response to the European Commission's ("the Commission") consultation on a retail investment strategy for the EU. ICI Global's submitted response takes account of member feedback on the draft response.
