Agenda for June 12th Member Call on Proposed New SEC Reporting Requirements for Funds and Advisers Proposals

[29057]

June 4, 2015

TO: ACCOUNTING/TREASURERS COMMITTEE No. 11-15
CHIEF COMPLIANCE OFFICER COMMITTEE No. 8-15
CHIEF RISK OFFICER COMMITTEE No. 16-15
CLOSED-END INVESTMENT COMPANY COMMITTEE No. 12-15
COMPLIANCE ADVISORY COMMITTEE No. 4-15
DERIVATIVES MARKETS ADVISORY COMMITTEE No. 39-15
ETF (EXCHANGE-TRADED FUNDS) COMMITTEE No. 13-15
ETF ADVISORY COMMITTEE No. 13-15
FIXED-INCOME ADVISORY COMMITTEE No. 18-15
INVESTMENT ADVISERS COMMITTEE No. 5-15
MONEY MARKET FUNDS ADVISORY COMMITTEE No. 17-15
REGISTERED FUND CPO ADVISORY COMMITTEE
SEC RULES COMMITTEE No. 16-15
SMALL FUNDS COMMITTEE No. 11-15
UNIT INVESTMENT TRUST COMMITTEE No. 3-15
VARIABLE INSURANCE PRODUCTS ADVISORY COMMITTEE No. 11-15 RE: AGENDA FOR JUNE 12TH MEMBER CALL ON PROPOSED NEW SEC REPORTING REQUIREMENTS FOR FUNDS AND ADVISERS (“PROPOSALS”)

 

Provided below is a brief description of the proposals’ major elements, aspects of the proposals that the ICI likely will support, and areas that we have identified as potentially warranting comment.  We welcome member input on all aspects of the proposals but determined to provide a detailed agenda highlighting particular issues for discussion to streamline our typical process. We did so in light of the length of the fund proposal, the brief (60 day) comment period, and the information gathered via the many discussions we have had with members over the last two years regarding the concepts in the proposals.  After the member call, we will report our tentative recommendations on the most significant issues to our Executive Committee and prepare a draft letter for your review.

Our comments on the adviser proposal will be limited to commenting on the effect that the proposal should have on the SEC’s ability to oversee risk in the investment management industry and any specific implications, if any, for registered investment companies. 

Please let us know in advance of the call by phone or email if you have identified any issues not identified in this agenda that might make sense discussing on the June 12th call.  For issues relating to proposed Form N-PORT or Form N-CEN please contact Sarah Bessin (sarah.bessin@ici.org) or Kenneth Fang (kenneth.fang@ici.org).  For issues relating to Website Posting of Shareholder Reports please contact Linda French (linda.french@ici.org) or Joanne Kane (joanne.kane@ici.org).  For proposed amendments to Regulation S-X please contact Greg Smith (smith@ici.org).

 

Dorothy M. Donohue
Deputy General Counsel - Securities Regulation

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