Small Funds Content

On 29 April 2022, the China Securities Regulatory Commission (CSRC) released for public consultation the Measures for the Administration of Cybersecurity Relating to the Securities and Futures Industry (Draft for Comments) ("Draft Measures").

On May 13, we submitted a letter to Andrea Gacki, the Director of the Office of Foreign Assets Control (OFAC), regarding the Russia sanctions. In the letter, we requested that OFAC amend General License No. 9C (GL 9C) to the Russian Harmful Foreign Activities Sanctions Regulations...

ICI has submitted the attached letter to the Treasury Department and the Internal Revenue Service (IRS) requesting clarification that regulated investment companies (RICs) can satisfy the "active trade or business requirement" under section 355(b)(1) with respect to their business of...

The next meeting of the Investment Company Institute's Small Funds Sales & Marketing Sub-Committee "Shop Talk" will be held on June 9th from 1:00 - 2:00 ET via Zoom.

Earlier today, ICI filed the attached comment letter in response to a FINRA regulatory notice expressing concerns associated with the sale of complex products and options to retail investors, and soliciting comment on related practices and potential rule enhancements.

In April, the International Organization of Securities Commissions (IOSCO) issued a discussion paper on the corporate bond markets, focusing on their experiences during the COVID-19 induced market stress of March 2020.

ICI has filed the attached comment letter with the SEC on its recent Private Funds Advisers proposal. The letter addresses proposed amendments to the Investment Advisers Act that would, among other things, require investment advisers to prepare a quarterly statement disclosing private...

On March 30, the SEC proposed a package of new rules and amendments related to special purpose acquisition companies (SPACs). The proposal is intended to enhance investor protections in initial public offerings (IPOs) by SPACs and in subsequent business combination transactions...

ICI recently filed a comment letter on the SEC proposal that would shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date ("T+2") to one business day after the trade date ("T+1").