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ICI Cyber Industry Tabletop Exercise 2024: After-Action Report

The asset management industry faces an escalating battle against cybercriminals employing increasingly sophisticated tactics. From state-sponsored attacks to ransomware-as-a-service (RaaS) platforms enabling low-skilled criminal infiltrations, the threat landscape is more complex than...
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35996

IRS Notices of Tax Information Breach

Several ICI member firms have reported receiving notifications from the Internal Revenue Service (IRS) informing them that their funds' tax information was leaked as part of the "Littlejohn" data breach at the IRS. These notices state that a former IRS contractor "has been charged...
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IDC Update: January 23, 2025

Join Independent Directors at IDC’s Upcoming Chapter Meetings in Southern California, Florida, Ohio, North Carolina, and New York IDC is pleased to kick off a new season of Chapter Meetings for fund independent directors. We are looking forward to engaging with directors in your...
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Memo#
35997

SEC Publishes Staff Accounting Bulletin No. 122; Rescinds SAB 121

On January 23, 2025, the SEC published Staff Accounting Bulletin No. 122 (SAB 122)[1] which rescinds the interpretive guidance included in Section FF of Topic 5 (Topic 5.FF) in the Staff Accounting Bulletin Series entitled Accounting for Obligations to Safeguard Crypto-Assets an...
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ICI Quarterly Update, January 2025

New leadership in Washington means there is an opportunity to set a future course for U.S. financial markets and retirement security. On behalf of our members, ICI is actively working with the Trump Administration and Congress to advance policies that protect fund shareholders, expand...