As ICI has pointed out before, the proposed rule from the Department of Labor (DOL) to redefine what counts as a fiduciary relationship in the retirement market is fundamentally flawed. But it is no less flawed than the DOL’s justification for it—a Regulatory Impact Analysis that...
ICI Statement on SEC Action on Liquidity Risk Management Programs for Mutual Funds Washington, DC, September 22, 2015— Investment Company Institute President and CEO Paul Schott Stevens issued the following statement in response to a vote by the Securities and Exchange Commission (SEC...
For 75 years, mutual funds have successfully met their regulatory obligation to fulfill redemption requests within seven days, meeting investor demands and delivering on their investment objectives through good markets and bad. Yet the Wall Street Journal seems determined to ignore...
Building Savings and Retirement Security in the Wake of Crisis World Affairs Council of St. Louis Paul Schott Stevens President and CEO Investment Company Institute September 17, 2015 Clayton, Missouri Thank you, for that generous introduction and welcome to St. Louis. I grew up on...
ICI Appreciates SEC Chair Mary Jo White’s Support for a T+2 Settlement Period Washington, DC, September 15, 2015— Investment Company Institute President and CEO Paul Schott Stevens issued the following statement in response to Securities and Exchange Commission Chair Mary Jo White’s...
Consistent 401(k) Participation Leads to Higher Account Balances Washington, DC, September 15, 2015—The average 401(k) account balance of workers who participated consistently in a 401(k) plan from year-end 2007 to year-end 2013 increased significantly between 2012 and 2013, according...
Shah Commission and Ministry of Finance Announce No Retroactive Assessments on Foreign Funds Washington, DC, September 1, 2015— The Investment Company Institute responded today to the decision by the Indian Ministry of Finance to adopt the recommendations of the Shah Committee Report...
With the global market turmoil over the past week, it’s no surprise that journalists are looking for hot stories of panic, investor flight, and impending crisis. Either they believe that investors are inherently flighty and panic-prone, or they believe that “this time is different”...
401(k) Plan Participants Paid Less in 2014 to Invest in Mutual Funds Than in 2013 Washington, DC, August 19, 2015—401(k) plan participants’ cost of investing in long-term mutual funds (equity, hybrid, and bond funds) was less in 2014 than in 2013, consistent with the pronounced...
