Internal Audit Advisory Content

Last week, the SEC adopted a new incentive-based compensation "clawback" rule (the "rule") and related amendments by a 3-2 vote. The final rule could require certain listed registered management investment companies ("funds") to adopt clawback policies as required by their exchanges...

On August 26, 2022, the Public Company Accounting Oversight Board (PCAOB) announced that it had signed a Statement of Protocol with the China Securities Regulatory Commission and the Ministry of Finance of the People's Republic of China regarding the PCAOB's ability to completely...

In June, the SEC issued a request for comment on index providers, model portfolio providers, and pricing services.

Last week, the SEC issued a request for comment on index providers, model portfolio providers, and pricing services ("information providers").

For the tenth year in a row, the SEC office responsible for conducting inspections of registrants, the Division of Examinations, has published its examination priorities for the coming year.

The Commission voted 3-1 earlier this week in favor of issuing for comment a proposal that would enhance and standardize climate-related disclosure for public companies (including asset managers which are public companies). The disclosure would be required to appear in company...

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.

In March 2021, the Securities and Exchange Commission (SEC) adopted interim final rules to implement the Holding Foreign Companies Accountable Act (HFCA Act), which requires the SEC to identify issuers that have filed annual reports with audit reports issued by a registered audit firm...

In October, the SEC re-opened the comment period for its 2015 clawback proposal, which it never adopted. Yesterday, ICI submitted the attached comment letter, once again reiterating that all registered investment companies ("funds") should be excluded from any final rule.