SEC Rules Content

This memorandum catalogues significant ESG related developments that have occurred since the beginning of August. 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 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").

The Division of Corporation Finance published a Sample Letter to Companies Regarding Climate Change Disclosures ("Sample Letter"). The announcement noted that Corp Fin staff may issue these comments as well as others during the disclosure review process and that comments would be...

On September 29, the UK Financial Conduct Authority (FCA) issued a series of publications on its proposed approaches to the definition of tough legacy contract, the permitted use of synthetic UK sterling and Japanese yen LIBOR, and the prohibited new use of USD LIBOR, with limited...

On September 14, SEC Chair Gary Gensler testified before the Senate Banking, Housing, and Urban Affairs Committee as part of that committee's oversight of the SEC. His testimony covered four topics from the SEC's unified agenda: (i) funds and investment management; (ii) market...

On September 23, ICI joined several industry associations in submitting the attached letter to the SEC on the applicability of Rule 15c2-11 to the fixed income markets. The rule concerns the publishing of quotes for securities in OTC markets and requires broker-dealers to collect...

The Financial Accounting Standards Board (FASB) recently released an exposure draft of a proposed accounting standards update that would amend ASC Topic 820, Fair Value Measurement. The proposed amendments address the fair value of equity securities that are registered for trading...

ICI submitted a response to the CFA Institute's Exposure Draft of Verification Procedures for CFA Institute ESG Disclosure Standards for Investment Products (Verification Procedures Exposure Draft). The attached document provides ICI's response to questions raised in the Exposure...

We are pleased to announce that, on November 16, from 11-1 pm ET, ICI will hold a virtual joint meeting of the SEC Rules Committee and the Chief Information Security Officer (CISO) Committee. For the first hour of the meeting, we will be joined by Rob Cohen, a partner at Davis Polk...

Earlier this week, Securities and Exchange Commission Chair Gary Gensler testified before the Senate Banking, Housing, and Urban Affairs Committee as part of that committee's oversight of the SEC. During the hearing, several senators and Chair Gensler discussed the SEC's anticipated...