SEC Rules Content

We are pleased to announce that on Tuesday, July 11, ICI will hold an in-person meeting of the SEC Rules Committee at our office in Washington, DC. We anticipate that the meeting will take place from 12-3:30 pm ET.

Yesterday, the SEC published for comment proposed revisions to Rule 248.30 in Regulation S-P. This is the section of the regulation that requires the safeguarding of customer records and information and the disposal of consumer report information. The proposed revisions are summarized...

On February 15, 2023, the Securities and Exchange Commission (the "Commission") adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date ("T+2") to one business day after the trade date...

ICI is circulating the draft comment letter regarding the Securities and Exchange Commission's (the "Commission" or SEC) proposals for Regulation Best Execution and the Order Competition Rule, both of which were proposed on December 14, 2022.

Attached for your review is ICI's draft comment letter to the SEC's Tick Size and Access Fee Reduction Proposal. A separate comment letter on the SEC's Best Execution and Order Competition proposals will be forthcoming shortly.

As previously reported, on January 25, the Securities and Exchange Commission (the SEC or "Commission") re-proposed a rule that was initially proposed in September 2011 (the "2011 Proposal") to implement the prohibition under Section 621 of the Dodd-Frank Act on material conflicts of...

Earlier this week, the SEC settled a case against a registrant that could have, but did not, self-report to the SEC pursuant to its 2018 Share Class Selection Disclosure Initiative of the SEC's Enforcement Division. The facts of this case are very similar to the fact pattern the...

GAO Report on Money Market Mutual Funds [34963] February 17, 2023 TO: ICI Members Money Market Funds Advisory Committee SEC Rules Committee SUBJECTS: Money Market Funds RE: GAO Report on Money Market Mutual Funds On February 2, the United States Government Accountability Office (GAO)...

Attached please find ICI's comment letter on the SEC's liquidity, swing pricing, hard close, and Form N-PORT proposal, which we filed last night. The proposal would radically change the liquidity risk management requirements for open-end funds (i.e., mutual funds and ETFs), impose on...