Bank, Trust and Retirement Advisory Committee
The Bank, Trust and Retirement Advisory Committee (BTRAC) provides a forum to identify ways to improve the distribution, operational processing, servicing, and support of mutual fund products. BTRAC’s efforts to better serve the needs of the industry and mutual fund shareholders focus particularly on the bank/trust and retirement distribution channels.
The Committee accomplishes its goals in the following ways:
- Enhancing the accuracy, timeliness, and efficiency of information available through automated networks, such as those provided by the NSCC
- Providing guidance and prioritizing enhancements for service providers
- Establishing industry processing standards and guidelines
- Pursuing opportunities and addressing challenges associated with emerging products, risk management, and services
- Facilitating compliance with new regulatory requirements
Communicating with other ICI committees and interested parties to broaden industry awareness of BTRAC initiatives and priorities.
Committee Members
Key Projects
- Address SEC rule making on “swing pricing”
- Evaluate industry needs related to “right-time delivery” of data
- Education on best practices in a hybrid business environment
- Large trade notification tool education and awareness
- Foster adoption of FICCA framework through education and best practices in intermediary
oversight - Education about NSCC “Mutual Fund Information Exchange Service” (MFIX) development of
additional features - Education on transparency tools
Membership Information
The BTRAC is an Invitation Only Committee. The committee has currently reached its membership capacity and is not accepting new members at this time. The committee’s operating Guidelines and Expectations outline committee member participation and ICI governance practices. Regular updates on the BTRAC's ongoing activities and key projects are provided at ICI’s Operations Committee meetings and at ICI's Operations webinars and conferences.
Colleague Access
Colleague Access gives committee representatives the ability to designate co-workers (i.e., non-committee members) to view committee memos and materials online, receive notification of memos addressed to the committee via ICI Digest and participate in committee calls and meetings.
As committees may deal with confidential policy topics involving draft comment letters and conference calls, ICI limits the number of colleagues per firm who can be designated for Colleague Access. Only committee representatives (not alternates or substitutes) can activate Colleague Access, and colleagues must be employed by the committee member’s firm.
Bank, Trust, and Retirement Advisory Committee representatives may designate a total of five individuals for colleague access.