Small Funds Content

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 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...

The Securities and Exchange Commission recently issued an exemptive order ("Final Order")[1] that provides conditional relief from certain provisions of the Securities Exchange Act of 1934 ("1934 Act") in connection with a program to portfolio margin customer and affiliate positions...

ICI today filed the attached complaint with the European Commission (EC) against Italy for violating European law by withholding tax on dividends paid to investment funds organized in the United States and certain other countries when tax is not imposed on comparable Italian funds.

As we previously informed you 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.

In October, the SEC re-opened the comment period for its 2015 clawback proposal,[2] which it never adopted. ICI intends to submit a comment letter. If you have comments on the attached draft, please provide them by November 18, COB.

This memorandum summarizes the most significant aspects of the updated implementation guidance published by the Financial Stability Board's Task Force on Climate-related Financial Disclosures ("TCFD").

The IRS has posted the latest in a series of early release drafts of the 2022 IRS Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments.

The President's Working Group on Financial Markets, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (the "Agencies") recently released a 23-page report on stablecoins ("report").