SEC Rules Content

On September 20, the Securities and Exchange Commission ("SEC" or "Commission") adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 ("Names Rule"), as well as associated forms and disclosure requirements. The final amendments passed by a vote of four to one, with...

A shutdown of the federal government could begin if Congress cannot agree on new appropriations beyond September 30, 2023.

On September 11, the SEC's Division of Enforcement announced that it had charged nine investment advisers with violations of Rule 206(4)-1 under the Investment Advisers Act ("Marketing Rule") for "advertising hypothetical performance on their websites without adopting and/or...

On July 26, the SEC proposed sweeping new regulatory requirements to address purported risks to investors from conflicts of interest associated with the use of "covered technologies" by investment advisers and broker-dealers (collectively, "firms"). Proposed rules 15l-2 under the...

ICI Global has filed comments with the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) regarding their recent Consultations on liquidity risk management in open-ended funds (OEFs). This memorandum summarizes ICI Global's comments.

On September 11, 2023, ICI, along with 13 other trade associations, filed a letter with the Securities and Exchange Commission (SEC or "Commission") raising serious concerns regarding the Commission's recent proposal on conflicts of interest associated with the use of predictive data...

On September 6, 2023, the SEC's Division of EXAMS published a Risk Alert that provides some transparency into the Division's examination of registered investment advisers. The Risk Alert discusses how the Division selects firms to examine, how it determines the focus areas for exams...

On September 6, 2023, the SEC issued an order, in a 3-2 vote, approving amendments related to the National Market System (NMS) Plan governing the funding model for the Consolidated Audit Trail (CAT). The full order is available here, the fact sheet is available here, and the press...

On August 23, 2023, the SEC adopted new rules and rule amendments under the Investment Advisers Act of 1940 ("Advisers Act") to reform the regulation of private fund advisers ("Private Fund Rules") and update the existing compliance rule that applies to all investment advisers (...

As we previously informed you, we held two state ESG-related webinars in July. These webinars are an exclusive opportunity for ICI members.