Operations Content

ICI has filed the attached comment letter on the Municipal Securities Rulemaking Board's (MSRB) proposed rule amendment to require dealers effecting municipal securities transactions subject to the T+1 settlement cycle to (1) enter into written agreements with "relevant parties" to...

As we previously reported, the Municipal Securities Rulemaking Board (MSRB) has proposed a rule amendment to promote the allocation, confirmation, affirmation (or any combination) of municipal securities transactions as soon as technologically practicable on a same-day basis. The MSRB...

The SEC has announced its settlement of an enforcement action against a dually-registered broker-dealer and investment adviser for violations of a Whistleblower rule under the Securities Exchange Act of 1934, Rule 2F-17(a). This rule prohibits any SEC registrant from taking any action...

On December 20, 2023, the Financial Stability Board (FSB) and International Organization of Securities Commissions (IOSCO) each published final reports on liquidity risk management in open-ended funds (OEFs), following their respective July 2023 consultations on the subject.

On December 21, the Municipal Securities Rulemaking Board (MSRB) proposed, via a rule filing to the Securities and Exchange Commission (SEC), amendments to MSRB Rule G-12 to require dealers effecting municipal securities transactions that are subject to the T+1 settlement cycle to (1)...

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...

ICI and ICI Global filed a cover note and response to the European Securities Market Authority's (ESMA) call for evidence on shortening the settlement cycle (Call for Evidence).

On October 31, 2023, the Department of Labor (DOL) released its long-awaited new regulatory package on fiduciary investment advice. The package includes a proposal to amend the regulation defining who is a "fiduciary" under section 3(21) of ERISA and section 4975(e)(3) of the Internal...

On October 30, 2023, the Securities and Exchange Commission filed a complaint against SolarWinds Corporation and its Chief Information Security Officer (CISO), Timothy G. Brown, alleging various violations of the Securities Act of 1933 and the Securities Exchange Act of 1934...

On September 25, 2023, the SEC's Division of Enforcement announced charges against a registered investment adviser ("Adviser") for causing mutual funds it advises ("Mutual Funds") to fail to develop and implement a reasonably designed anti-money laundering ("AML") program. The Adviser...