On July 6 2021, to help improve the flow of money towards financing the transition to a sustainable economy, the European Commission (Commission) published a comprehensive package of sustainable finance measures
In a letter to Member States and the European Parliament, dated 8 July 2021, the European Commission (EC) indicated it would delay the application of the Sustainable Finance Disclosure Regulation's (SFDR) Regulatory Technical Standards (RTS) by 6 months, until 1 July 2022.
The Investment Company Institute's next Small Funds Committee "Research Update" will take place on Thursday, August 19, 2021, 1:00 p.m.-2:00 p.m. ET. We will hear from ICI Senior Directors Shelly Antoniewicz and Sarah Holden.
The next meeting of the Investment Company Institute's Series Trust Advisory Committee will be held on Tuesday, August 17, 2021 1:00 pm-2:00 pm ET via Zoom.
On July 7, the SEC Asset Management Advisory Committee (AMAC) unanimously approved recommendations from its Subcommittee on Diversity and Inclusion to promote diversity and inclusion in the asset management industry. The subcommittee has been examining the current state of diversity...
The Asset Management Advisory Committee (AMAC) voted unanimously on July 7 to approve several recommendations that AMAC's ESG Subcommittee (Subcommittee), which were discussed at both the AMAC's December 2020 and March 2021 meetings. The recommendations were intended to enhance the...
Attached for your review is ICI's draft response to the CFA Institute's Exposure Draft on ESG Disclosure Standards for Investment Products, which incorporates member input on a previous draft. Please provide your comments to Annette Capretta at acapretta@ici.org by 5:00 pm ET on July...
On 29 June 2021, the Hong Kong Securities and Futures Commission (SFC) issued the Circular to management companies of SFC-authorised unit trusts and mutual funds - ESG funds (Circular). The Circular supersedes the 2019 Circular on Green or ESG funds and enhances the scope and...
On June 22, 2021, the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) published its feedback report on the European Securities and Market Authorities (ESMA) recent Common Supervisory Action (CSA) on UCITS Liquidity Risk Management (LRM), which released its results in...
Last week, 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...
On 30 June 2021, the International Organization of Securities Commissions (IOSCO) published Consultation Report on Recommendations for Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management (Consultation Report), with the comments on the Consultation...
Commissioner Peirce recently issued a public statement, which summarizes, and includes as an appendix, a copy of a comment letter she submitted to the International Financial Reporting Standards ("IFRS") Foundation on its planned creation of an International Sustainability Standards...
The next meeting of the ICI Global Regulated Funds Committee will be held virtually on Thursday, July 22, 2021, from 10:00 a.m. - 12:00 p.m. US Eastern / 3:00 p.m. - 5:00 p.m. GMT. A calendar invitation was sent to you previously, but we ask that you please register for the meeting...
Last week, the UK Financial Conduct Authority (FCA) released a consultation on how to change the calculation methodology for UK sterling and Japanese yen LIBOR rates, which are expected to become unrepresentative after December 31, 2021. The FCA expects that it will compel the ICE...
In late March, the European Banking Authority (EBA) published a consultation paper on draft regulatory technical standards (RTS) on disclosure of investment policy by investment firms under Article 52 Regulation (EU) 2019/2033 on the prudential requirements of investment firms (IFR)...
The Investment Company Institute's Broker/Dealer Advisory Committee will meet virtually July 28-29, 2021 in three online sessions. The dates and times are listed below (all times ET).
Attached for your review is our draft response to the TCFD consultation, which incorporates our discussion on the member call and additional input we received from members. Because of a short consultation period, we ask for your input by 5 July COB.
Commissioner Lee recently provided her views on how boards of directors should navigate ESG-related issues that are "fundamental to the success and sustainability of companies, financial markets, and our economy." She noted that "while many companies report that they oversee ESG at...
The European Securities and Markets Authority (ESMA) has issued a consultation report on potential reforms of the EU Money Market Funds Regulation (MMF Regulation). The consultation discusses potential reforms of the MMF Regulation in light of the experiences of money market funds...
The next meeting of the ICI Global Regulated Funds Committee - Asia will take place virtually on Thursday, July 29 from 9:00 a.m. - 10:30 a.m. Hong Kong time, which is Wednesday, July 28 from 9:00 p.m. - 10:30 p.m. US ET. Because the guest speakers may be of interest to members of the...
The next meeting of the ICI Global Regulated Funds Committee - Asia will take place virtually on Thursday, 29 July from 9:00 a.m. - 10:30 a.m. Hong Kong/Shanghai/Singapore time. Please register for the meeting through this Cvent link - https://cvent.me/vwYbeo. You will be provided...
The Department of Labor (DOL) recently announced that it was reopening the comment period on its 2013 proposal to amend six prohibited transaction class exemptions (PTEs) to remove references to credit ratings pursuant to the requirements of the Dodd-Frank Wall Street Reform and...
