Accounting/Treasurers Content

The SEC's Division of Examinations has published a Risk Alert summarizing its review of more than 50 fund complexes (covering more than 200 funds and/or series of funds) and nearly 100 advisers. These examinations targeted the following six categories that had been announced by the...

Last December, the SEC adopted new Rule 2a-5 under the Investment Company Act, which addresses the fair valuation responsibilities of funds and their boards and advisers, along with a companion recordkeeping rule. The final rules reflect the SEC's belief that "to determine the fair...

Last week, the SEC reopened the comment period for its 2015 clawback proposal, which it never adopted. This will allow further opportunity to analyze and comment on the proposal in light of developments since its publication.

ICI submitted the attached letter to the Treasury Department regarding reclaim amounts received by US regulated investment companies (RICs) from European Union countries under Article 63 of the Treaty of the Functioning of the European Union.

On October 5, SEC Chair Gary Gensler testified before the House Financial Services Committee[1] on four topics from the SEC's unified agenda: (i) funds and investment management; (ii) market structure; (iii) predictive data analytics; and (iv) issuers and issuer disclosure.

Yesterday, ICI provided additional information in response to the SEC staff's request for feedback on funds' cross trading practices under Rule 17a-7 of the Investment Company Act (the "cross trading rule"). The attached report further informs the SEC's rulemaking efforts by providing...

This memorandum catalogues significant ESG related developments that have occurred since the beginning of August. 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 Division of Corporation Finance published a Sample Letter to Companies Regarding Climate Change Disclosures ("Sample Letter"). The announcement noted that Corp Fin staff may issue these comments as well as others during the disclosure review process and that comments would be...

On September 23, ICI joined several industry associations in submitting the attached letter to the SEC on the applicability of Rule 15c2-11 to the fixed income markets. The rule concerns the publishing of quotes for securities in OTC markets and requires broker-dealers to collect...

The Investment Company Institute and Nareit submitted the attached letter to the Internal Revenue Service (IRS) requesting a delay to the mandatory use of the new boxes (2e and 2f) on IRS Form 1099-DIV to report section 897 gain attributable to US real property interests (USRPIs).