Disclosure Content

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...

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...

On November 7th, the Securities and Exchange Commission's Division of Investment Management Disclosure Review and Accounting Office issued Account and Disclosure Information 2024-141 to address common issues observed in the implementation of the SEC's new requirements for mutual funds...

On November 8, 2024, the SEC instituted public administrative and cease-and-desist proceedings against an asset manager arising from misleading statements concerning the company-wide percentage of assets under management by it and its affiliates that was "ESG integrated," a term that...

Last month, the Securities and Exchange Commission settled charges with a registered investment adviser for overvaluing certain fixed-income securities, inappropriately cross trading them among affiliated accounts, and related disclosures deemed false and misleading. The adviser...

This memorandum catalogues significant ESG related developments that have occurred since February 2, 2024.

On October 21, 2024, the SEC instituted public administrative and cease-and-desist proceedings against an asset manager arising from statements made regarding three exchange-traded funds that it marketed as incorporating environmental, social, and governance factors. To settle the...

ICI responded to two consultations regarding liquidity management tools issued by the European Securities Market Authority.

On September 19, 2024, the SEC instituted public administrative and cease-and-desist proceedings against an asset manager arising from "material misstatements concerning how it managed investments for clients.

The SEC adopted amendments to fund reporting requirements on Forms N-PORT and N-CEN and issued guidance on open-end funds' liquidity risk management programs.