Operations Content

On July 31, the SEC Division of Examinations ("Division") published a risk alert ("Risk Alert") regarding anti-money laundering ("AML") compliance examinations of broker-dealers. The Risk Alert highlights the Division's observations that: some broker-dealers "did not appear to devote...

SEC Issues Proposal on Conflicts of Interest Related to Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers [35390] August 02, 2023 TO: Advertising Compliance Advisory Committee Broker/Dealer Advisory Committee Investment Adviser and Broker-Dealer Standards of...

Last week, the SEC announced that it has settled an enforcement proceeding against a broker-dealer that failed to maintain approximately 47 million electronic communications created from January through April 2018 that were in about 8700 electronic mailboxes.

On May 25, the Securities and Exchange Commission approved proposed rule changes by the Municipal Securities Rulemaking Board (MSRB) to facilitate shortening the settlement cycle for transactions in municipal securities. The amendments aim to promote regulatory consistency and follow...

At ICI's 2023 Leadership Summit, SEC Chair Gensler delivered remarks which focused on fund dilution and liquidity and how it relates to financial stability, outstanding SEC rule proposals related to money market funds and liquidity risk management, hard close, and swing pricing, and...

As we previously informed you, in March 2023, the SEC published for comment proposed rules that would revise Regulation S-P to require SEC registrants to provide breach notices to customers and consumers in the event such persons' non-public personal information is breached.

ICI has filed the attached comment letter on the Municipal Securities Rulemaking Board's (MSRB) proposed amendments to facilitate shortening the settlement cycle for transactions in municipal securities. The Proposal aims to promote regulatory consistency and follows the adoption by...

On April 20, 2023, the Securities and Exchange Commission ("Commission" or SEC) staff issued a third staff bulletin ("Staff Bulletin") providing guidance on the duty of care obligations under Regulation Best Interest ("Reg BI") for broker-dealers and under the fiduciary duty standard...

ICI is pleased to announce publication of its white paper, Reaching the Debt Limit: Certain Fund Operational and Legal Considerations. If the US debt limit is not increased in a timely and orderly fashion, the US Government may be considered in default on its obligations as they...