Small Funds Content

On June 26th, the Fifth Circuit Court of Appeals vacated those 2022 SEC proxy advice amendments that rescinded the 2020 amendments—called the "notice-and-awareness" conditions.

ICI, along with a number of other trade associations who represent different participants in the U.S. capital markets, developed a white paper,"Investors and the Markets First: Reforms to Restore Confidence in SEC", which (i) identifies areas where the SEC's current rulemaking agenda...

The Department of the Treasury published in the Federal Register a request for information on uses, opportunities, and risks of artificial intelligence (AI) in the financial services sector. The RFI uses a broad definition AI, which Treasury views as encompassing "a wide range of...

ICI filed the attached letter in support of the Cboe BZX Exchange, Inc. taking steps to permit the generic listing and trading of multi-class ETF Shares.

On May 16, 2024, the SEC unanimously adopted amendments to Rule 248.30 in Regulation S-P (the "amendments"). Since its adoption in 2000, Regulation S-P has required the safeguarding of customer records and information and the disposal of consumer report information.

As part of the SEC's Conference on Emerging Trends in Asset Management, Chair Gensler delivered a keynote address titled, "Jack Bogle, Haystacks, and Putting the Interest of the Clients First." His remarks covered a number of subject areas, including the growth of investment products...

The Investment Company Institute and ICI Southwest sent the attached letter to the SEC last week, supplementing our prior comments on the ESG Fund and Adviser Proposal, in light of the recent adoption and subsequent stay of the Public Company Climate Rule.

On March 6, 2024, the Securities and Exchange Commission adopted final rules on The Enhancement and Standardization of Climate-Related Disclosures for Investors. Following adoption, the Final Rules were subjected to a number of legal challenges. On April 4, 2024, the Commission issued...

On March 27, three SEC divisions issued notices relating to the upcoming May 28, 2024 implementation of the T+1 standard settlement cycle under Rule 15c6-1. First, the Divisions of Trading and Markets and Investment Management issued a FAQ that responds to questions about the standard...

On January 18, 2024, Robinhood Financial LLC settled charges brought by the Massachusetts Securities Division in connection with an August 2023 Massachusetts Supreme Judicial Court decision upholding a Massachusetts rule, finalized in 2020, that imposes a fiduciary duty on broker...