Operations Content

The Office of Information and Regulatory Affairs released the Fall 2022 Unified Agenda of Regulatory and Deregulatory Actions on January 4, 2023. The agenda includes regulatory actions that the Securities and Exchange Commission and Commodity Futures Trading Commission expect to take...

ICI is pleased to announce an update to its Navigating Intermediary Relationships white paper, presented in conjunction with the Independent Directors Council (IDC). The paper's purpose is to describe the participation of and effect by intermediaries on mutual fund distribution.

On December 23, 2022, the ICI filed a comment letter with the Securities and Exchange Commission on its proposal entitled "Outsourcing by Investment Advisers." The SEC has proposed a new rule, Rule 206(4)-11, under the Investment Advisers Act of 1940 (the "Advisers Act"), that would...

On December 15, 2022, the Financial Crimes Enforcement Network ("FinCEN") issued a proposed rule ("Proposed Rule") regarding access to beneficial ownership information ("BOI"). The Proposed Rule follows a recently adopted BOI reporting rule ("BOI Reporting Rule") and is the second of...

The 2022 Primary Layout and Instructions have been updated to account for the new "FATCA filing requirement" checkbox that has been assigned box number 11. Subsequently, Form 1099-DIV box numbers 11 through 15 have been renumbered 12 through 16, respectively.

On November 2, 2022, by a 3-2 vote, the SEC approved a proposal that would: amend Rule 22e-4 (the "liquidity rule"), which applies to open-end funds; require mutual funds to adopt swing pricing; and change all Form N-PORT filers' reporting obligations

On November 2, the Securities and Exchange Commission adopted amendments to Form N-PX and related rules (collectively, "amendments") to enhance reporting of proxy voting information by registered investment companies ("funds") and institutional investment managers ("managers"). The...

As previously reported, the Securities and Exchange Commission recently adopted amendments that will require open-end funds to (1) create and transmit summary shareholder reports highlighting key information to investors; and (2) tag the contents of shareholder reports in a structured...

​​​​​​​Earlier this month, the Financial Stability Oversight Council issued a report reviewing financial stability risks and regulatory gaps from digital assets, and providing recommendations to address such risks.

On September 29, 2022, the Financial Crimes Enforcement Network ("FinCEN") issued a final rule regarding beneficial ownership information reporting ("Rule"). FinCEN proposed the Rule in December 2021 to implement Section 6403 of the Corporate Transparency Act ("CTA"), which was...