Disclosure Content

In late February, FINRA proposed to further amend Rule 2210. The amended proposal would permit a FINRA member to project performance or provide a targeted return with respect to a security or asset allocation or other investment strategy in an institutional communication solely to...

On January 25, 2024, the CFTC's Divisions of Market Oversight, Clearing and Risk, Market Participants, and Data and the Office of Technology Innovation issued a request for comment ("RFC") to better inform them on the current and potential uses and risks of artificial intelligence (...

This memorandum catalogues significant ESG related developments that have occurred since August 22, 2023. It references ICI memoranda that provide a more fulsome description of each matter. You can find all of these memoranda on our website in our ESG Resource Center.

The staff of the Securities and Exchange Commission's Division of Investment Management recently issued a set of frequently asked questions on the Commission's final tailored shareholder reports rulemaking. The FAQs address twelve questions, including several that ICI and its members...

The staff of the SEC's Division of Investment Management recently provided its views that exchange-traded funds must disclose their foreign currency holdings fully and transparently on their websites each day. The disclosure should enable market participants to effectively arbitrage...

[35589] January 21, 2024 TO: Broker/Dealer Advisory Committee Investment Adviser and Broker-Dealer Standards of Conduct Working Group Investment Advisers Committee Retail SMA Advisory Committee SEC Rules Committee SUBJECTS: Advertising Compensation/Remuneration Compliance Disclosure...

On January 2, 2024, ICI submitted a letter to the Department of Labor (DOL) commenting on its recent regulatory package on fiduciary investment advice ("Proposal"). The Proposal includes proposed amendments to the regulation defining who is a "fiduciary" under section 3(21) of ERISA...

Linked below is the comment letter that ICI filed today with the SEC, which expresses serious concerns with how the SEC's proposed amendments to the liquidity rule would affect mutual funds and ETFs investing in bank loans. This letter elaborates on points made about bank loan funds...

Earlier this week, the U.S. Court of Appeals for the Fifth Circuit struck down Securities and Exchange Commission amendments that would have required enhanced disclosure when an issuer repurchases its own equity securities ("Share Repurchase Rule").