Security Valuation Operations Committee
The Security Valuation Operations Committee deals with valuation of portfolio securities, dissemination of daily mutual fund prices to the general public, and interaction with independent accountants as part of the annual audit of the fund’s financial statements and security values. Auditors, NASDAQ, market data vendors and the media are invited on an as needed basis.
Key Issues of Interest
- SEC and FASB security valuation frameworks
- PCAOB audit standards on auditing security values
- Systems for disseminating mutual fund prices
Committee Meetings
The Security Valuation Operations Committee holds two in-person meetings per year and may hold conference calls as issues arise.
Membership Information
Each member firm may have up to two representatives on the Security Valuation Operations Committee. Non members may participate on the committee at the staff coordinator’s discretion.
Committtee Members
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.
Security Valuation Operations Committee representatives may designate at total of three individuals for colleague access.