SEC Rules Content

This memorandum catalogues significant ESG related developments that have occurred since February 2, 2023. It references ICI memoranda that provide a more fulsome description of each matter. You can find all of these memoranda on our website in our ESG Resource Center.

On August 21, 2023, ICI submitted a response to the Financial Stability Board's consultation, Enhancing Third-Party Risk Management and Oversight.

On July 20th, the European Commission (Commission) published a report on the adequacy of the Money Market Fund Regulation (MMFR), which has been in application in the EU since January 2019.

On August 9, 2023, President Biden signed Executive Order 14105, titled Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern (Executive Order), which directed the US Secretary of the Treasury to develop and establish a US...

On August 9, 2023, President Biden signed a highly anticipated Executive Order to establish a U.S. outbound investment regime. At the same time, the Treasury Department published an Advance Notice of Proposed Rulemaking to initiate a rulemaking process to develop and implement an...

On August 7, 2023, the Investment Company Institute and Independent Directors Council filed a joint comment letter in response to the Public Company Accounting Oversight Board's (PCAOB) proposed amendments to the auditing standards related to a company's noncompliance with laws and...

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...

On July 31, ICI submitted a letter supplementing our comments on the SEC's proposed amendments ("Proposal") to Rule 35d-1 ("Names Rule") under the Investment Company Act of 1940 ("1940 Act"). In the letter, we point out that regulatory processes and requirements already exist to...

ICI has filed comments with the Financial Stability Oversight Council (FSOC or Council) on two proposals: (i) revised guidance on the Council's process for potential designation of a nonbank financial company as a systemically important financial institution (SIFI); and (ii) a new...

We submitted a letter to the SEC yesterday to further support our recommendation that the Commission not include a separate category for "ESG Integration" funds in any final rule. In support of our view that distinctly singling out "Integration Funds" is unnecessary, we describe how...