SEC Rules Content

On Tuesday, December 14, from 12:30-3:30 pm ET, ICI will hold a virtual members-only meeting of the SEC Rules Committee. Our guest speaker will be John Coates, Professor of Law and Economics at Harvard Law School.

On November 4, the Securities and Exchange Commission issued two proposals that would require certain forms to be filed electronically and update certain other forms and processes. The first proposal ("Electronic Submission Proposal") would provide electronic filing for Form 13F...

This memorandum catalogues significant ESG related developments that have occurred since October. It references ICI memoranda that provide a more fulsome description of each matter.

Global regulators and policymakers continue to address LIBOR transition by market participants. Below, we discuss two recent developments: a UK Financial Conduct Authority (FCA) confirmation of its policy on the use synthetic versions of UK sterling and Japanese yen LIBOR when those...

As previously reported, on September 29, the Securities and Exchange Commission proposed amendments to enhance reporting of proxy voting information by registered investment companies ("funds") and institutional investment managers ("managers").

In October, the SEC re-opened the comment period for its 2015 clawback proposal, which it never adopted. Yesterday, ICI submitted the attached comment letter, once again reiterating that all registered investment companies ("funds") should be excluded from any final rule.

On November 17, the SEC proposed changes to its 2020 proxy advice amendments by a 3-2 vote. Most notably, the proposal would rescind provisions in the 2020 amendments.

The Securities and Exchange Commission recently proposed rule 10c-1 ("proposed rule") under the Securities Exchange Act of 1934 ("Exchange Act") to increase transparency and efficiency in the securities lending market. The proposed rule is summarized below.

The Basel Committee on Banking Supervision, the Committee on Payments and Market Infrastructure, and the International Organization of Securities Commissions (collectively, the "regulators") late last month published a joint consultation ("report") .

The Securities and Exchange Commission yesterday adopted amendments to its proxy rules that will require the use of a "universal proxy card" in contested director elections. Importantly, as ICI strongly recommended, these universal proxy rules will apply only to non-exempt...