On November 22, 2024, the IRS issued Announcement 2024-38, providing information regarding the 403(b) pre-approved plan opinion letter program.

On 25 November 2024, the Securities and Futures Commission (SFC) issued a circular to provide guidance to asset managers regarding due diligence on ESG ratings and data providers, following the recent publication of the Hong Kong voluntary code of conduct for ESG ratings and data...

Last week, ICI sent a letter (linked below) to SEC Chair Gensler, requesting that the SEC (i) suspend the compliance dates for certain recent regulatory actions, (ii) halt work on not-yet-finalized rulemaking, and (iii) extend soon-to-expire relief that would have a significant impact...

Last week, the SEC staff extended indefinitely compliance relief from Exchange Act Rule 15c2-11 (the "rule") for brokers and dealers publishing or submitting quotations for fixed income securities. The prior SEC staff relief—which the 2024 Letter withdraws—would have expired in...

On November 18, 2024, the Department of Labor announced the start of its information collection in order to establish the Retirement Savings Lost and Found online searchable database as directed under §303 of the SECURE 2.0 Act.

On November 7, the Securities and Exchange Commission adopted conforming amendments that are intended to correct certain errors in the following rules and forms: Rule 482 under the Securities Act of 1933, Forms N-1A, N-2, N-CSR and N-MFP, and Rule 204-2 under the Investment Advisers...