This week, I testified before Congress at a hearing on the issue of money market funds and recent regulatory proposals from the Securities and Exchange Commission (SEC) that would amend the rules governing these funds. The hearing provided an excellent opportunity to continue to...
Third in a series of posts about retirement plans and the policy proposals surrounding them. In two previous Viewpoints posts (post one and post two), I explained the benefits that workers get from deferring tax on compensation set aside for retirement.
IDC Is Not Convinced Additional Money Market Fund Reform Is Warranted Washington, DC, September 18, 2013 - In response to the Securities and Exchange Commission’s (SEC) money market fund reform proposal, the Independent Directors Council (IDC) stated that it is not convinced...
Second in a series of posts about retirement plans and the policy proposals surrounding them. In a previous Viewpoints post, I discussed the difference between tax deferral—the tax treatment applied to retirement savings—and tax deductions and exclusions, such as the mortgage interest...
ICI President and CEO Paul Schott Stevens made the following statement today as ICI filed its comment letter on the Securities and Exchange Commission’s money market fund regulatory proposal:
First in a series of posts about retirement plans and the policy proposals surrounding them. In today’s fiscal and political climate, taxes are never far from politicians’ minds. Whether to achieve comprehensive tax reform or to raise revenue to meet budget deficits, members of...
In a noteworthy development for anyone following the debate around financial transaction taxes (FTTs), the Council of the European Union Legal Service has issued a legal opinion regarding the FTT proposal under consideration by some EU member countries.
Mutual Funds’ Duty to Investors By Paul Schott Stevens (As published in InvestmentNews, September 8, 2013) In June 2004, when I became president and chief executive of the Investment Company Institute, the fund industry was still reeling from revelations regarding late trading and...
