Small Funds Content

Last week, the SEC staff extended indefinitely compliance relief from Exchange Act Rule 15c2-11 (the "rule") for brokers and dealers publishing or submitting quotations for fixed income securities. The prior SEC staff relief—which the 2024 Letter withdraws—would have expired in...

ICI and SIFMA AMG submitted a letter to SEC Chair Gensler, reiterating our shared concerns about applying Rule15c2-11 under the Exchange Act to fixed income securities.

On November 7th, the Securities and Exchange Commission's Division of Investment Management Disclosure Review and Accounting Office issued Account and Disclosure Information 2024-141 to address common issues observed in the implementation of the SEC's new requirements for mutual funds...

Later this month, ICI intends to submit a letter to the SEC, reiterating our concerns about applying Rule 15c2-11 under the Exchange Act to fixed income securities. Market participants historically have not understood the rule to apply to, and its provisions are not well-suited for...

On October 21, 2024, ICI submitted a comment letter to nine federal agencies, including the Securities and Exchange Commission, on their proposal to jointly establish data standards for collections of information reported to the Agencies under the Financial Data Transparency Act of...

For review is a draft ICI comment letter to the proposal issued by nine federal agencies including the Securities and Exchange Commission, to jointly establish data standards for collections of information reported to the Agencies under the Financial Data Transparency Act of 2022.

As required by the Financial Data Transparency Act of 2022, several federal financial regulators, including the SEC, published a proposal to establish joint data standards. The purpose of the Proposal is to promote the interoperability of financial regulatory data across the Agencies.

On August 12, 2024, ICI submitted the attached comment letter to the U.S. Department of the Treasury's ("Treasury") on the "Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector" (the "RFI"). Treasury issued the RFI on...

In Securities and Exchange Commission v. Jarkesy, the Supreme Court held that when the SEC seeks civil penalties against a defendant for securities fraud, the Constitution's Seventh Amendment entitles the defendant to a jury trial.

Attached for your review is a draft ICI comment letter to U.S. Department of the Treasury's "Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector". Treasury issued the RFI on June 12th, please see the ICI memo...