Operations Content

Earlier this week, the Securities and Exchange Commission 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 data language.

In December 2020, the SEC adopted rule amendments that replaced the existing Investment Advisers Act advertising and cash solicitation rules for investment advisers and private funds with a single, combined "Marketing Rule." The new Marketing Rule does not apply to advertisements...

Earlier this week, the SEC announced its settlement of enforcement actions against 15 broker-dealers and one investment adviser for failing to comply with recordkeeping requirements to maintain and preserve certain "off-channel communications."

Earlier this week the SEC charged investment adviser Toews Corporation (the "adviser") with violations of the Advisers Act and the proxy voting rule thereunder in connection with the adviser's proxy voting-related conduct.

On September 20, 2022, the SEC settled an enforcement action against a dually-registered broker-dealer and investment adviser for violating Regulation S-P by failing to ensure the proper disposal of customers' non-public personal information (NPPI) when it decommissioned various...

In July, the SEC proposed amendments to Rule 14a-8 (the shareholder proposal rule) by a 3-2 vote.

In July, the SEC proposed amendments to Rule 14a-8 (the shareholder proposal rule) by a 3-2 vote. The proposal would narrow three bases upon which companies may exclude shareholder proposals from their proxy statements: the "substantial implementation," "duplication," and...

The next meeting of the Investment Company Institute's (ICI) Operations Committee will be held on Monday, November 7 from 1:00 p.m. to 5:00 p.m. CT and on Tuesday, November 8 from 9:00 a.m. to 1:00 p.m. CT in conjunction with ICI's Technology Summit.

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

As you may recall, in June 2022, the Institute filed suit against the California Department of Financial Protection and Innovation (DFPI) to challenge the Department's authority to increase the notice filing fees it imposed on investment companies.