SEC Rules Content

On December 20, 2023, the Financial Stability Board (FSB) and International Organization of Securities Commissions (IOSCO) each published final reports on liquidity risk management in open-ended funds (OEFs), following their respective July 2023 consultations on the subject.

On December 15, 2023, the SEC issued a staff report on the accredited investor definition. The Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") directs the SEC to undertake a review of the accredited investor definition at least once every four years to...

Last month, the Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Commission (FDIC and collectively, Agencies) issued a statement extending previously issued no-action relief under Regulation O.[1] The no-action relief...

On January 2, 2024, ICI submitted a letter to the Department of Labor (DOL) commenting on its recent regulatory package on fiduciary investment advice ("Proposal"). The Proposal includes proposed amendments to the regulation defining who is a "fiduciary" under section 3(21) of ERISA...

On December 13, the SEC adopted a final rule to mandate central clearing and settlement of certain secondary market transactions in US Treasury securities—cash Treasuries and Treasury repo and reverse repo—in which one of the counterparties is a direct participant of a covered...

[35552] December 19, 2023 TO: Liquidity Rule Implementation Working Group SEC Rules Committee Small Funds Committee RE: ICI Draft Comment Letter on SEC Liquidity Proposal's Impact on Funds Investing in Bank Loans; Comments Due by December 21 at 12:00 pm ET Linked below is a draft ICI...

Attached is a copy of ICI's comment letter as filed to the SEC on FINRA's proposed rule change to disseminate transaction-level data in US Treasury securities that are On-the-Run Nominal Coupons on an end-of-the-day basis.

On December 4, 2023, the Financial Stability Board (FSB) published Enhancing Third-Party Risk Management and Oversight: A toolkit for financial institutions and financial authorities.

On December 13, 2023, the SEC settled an enforcement action against Credit Suisse Securities ("CSS") and two affiliated entities based on findings that they violated Section 9(a) of the Investment Company Act (ICA) by acting as a principal underwriter or investment adviser to a...

Attached for your review is ICI's draft comment letter to FINRA's proposed rule change to disseminate transaction-level data in US Treasury securities that are On-the-Run Nominal Coupons on an end-of-the-day basis. ICI plans on filing the letter to the SEC by COB this Friday, December...