ICI Call on May 1 to Discuss SEC Proposals on Standards of Conduct for Broker-Dealers and Investment Advisers
[31175]
April 19, 2018 TO: Investment Advisers CommitteePension Committee
Pension Operations Advisory Committee
SEC Rules Committee
Small Funds Committee RE: ICI Call on May 1 to Discuss SEC Proposals on Standards of Conduct for Broker-Dealers and Investment Advisers
The SEC voted 4-1 on Wednesday to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers, while preserving access to a variety of types of advice relationships and investment products.[1] We describe the Proposals in a separate ICI memorandum,[2] also circulated in today’s ICI Daily.
This memorandum contains dial-in information for a conference call to discuss the Proposals on Tuesday, May 1 from 11:00-12:30 p.m. ET. The dial-in number is 800-857-9872 and the passcode is 4791068.
ICI will be submitting a comment letter on the Proposals, which will be due to the SEC 90 days following publication of the Proposals in the Federal Register.[3]
Dorothy M. Donohue
Deputy General Counsel - Securities Regulation
Sarah A. Bessin
Associate General Counsel
Linda M. French
Assistant General Counsel
endnotes
[1] Commissioner Stein voted against issuing the Proposals. The three proposals can be found on the SEC’s website at https://www.sec.gov/rules/proposed.shtml (“Proposals”). Statements by Chairman Clayton, Commissioner Stein, and Commissioner Piwowar also can be found on the SEC’s website at https://www.sec.gov/news/statements.
[2] See ICI Memorandum No. 31174.
[3] In response to Chairman Clayton’s June 2017 request for comment on standards of conduct for investment advisers and broker-dealers, ICI submitted two letters to the Commission related to the Proposals. The comment letters can be found at https://www.sec.gov/comments/ia-bd-conduct-standards/iabdconductstandards.htm.