Compliance Advisory Content

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Compliance Advisory Committee

The Compliance Advisory Committee consists of those representatives of ICI members who are senior compliance professionals within fund complexes but who are not CCOs and therefore not eligible to serve on the Institute’s CCO Committee. This Advisory Committee.
ICI Default BG
Memo#
36034

ICI Submits Letter Requesting Changes to the SEC's Form N-PORT Amendments

Earlier today, ICI submitted the attached letter to Acting SEC Chairman Mark T. Uyeda requesting that the Commission further amend the Form N-PORT amendments adopted in August 2024 to: (i) eliminate the publication of each monthly Form N-PORT (including a fund's full portfolio...
ICI Default BG
Memo#
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...
ICI Default BG
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...
ICI Default BG
Memo#
35718

SEC Adopts Amendments to Regulation S-P

On May 16, 2024, the SEC unanimously adopted amendments to Rule 248.30 in Regulation S-P (the "amendments"). Since its adoption in 2000, Regulation S-P has required the safeguarding of customer records and information and the disposal of consumer report information.