Small Funds Content

On September 27, the SEC's Division of Enforcement announced that it had charged fifteen broker-dealers and one investment adviser associated with one of the broker-dealers with "widespread and longstanding failures by the firms and their employees to maintain and preserve electronic...

On October 7, 2022, the Internal Revenue Service (IRS) released Notice 2022-53, providing limited interim guidance in advance of issuing final regulations on retirement plan required minimum distributions (RMDs) under Internal Revenue Code ("Code") section 401(a)(9).

[34302] October 3, 2022 TO: ICI Members 529 Plan Advisory Committee ABLE Act Working Group SUBJECTS: 529 Plans Tax RE: IRS Addresses Questions Regarding ABLE Accounts The Internal Revenue Service (IRS) has released an Information Letter which addresses several questions that had been...

In August, the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB) issued proposals and requested comment regarding reducing the trade reporting timeframe for certain transactions reported to the Trade Reporting and Compliance Engine...

Earlier this week, the SEC announced its settlement of enforcement actions against 15 broker-dealers and one investment adviser for failing to comply with recordkeeping requirements to maintain and preserve certain "off-channel communications."

Earlier this week the SEC charged investment adviser Toews Corporation (the "adviser") with violations of the Advisers Act and the proxy voting rule thereunder in connection with the adviser's proxy voting-related conduct.

On September 20, 2022, the SEC settled an enforcement action against a dually-registered broker-dealer and investment adviser for violating Regulation S-P by failing to ensure the proper disposal of customers' non-public personal information (NPPI) when it decommissioned various...

The Norwegian Tax Administration (NTA) has been denying claims filed by RICs for recovery of tax withheld in excess of the treaty-provided rate for Norwegian dividends.

The Investment Company Institute's next Small Funds Committee Quarterly "Shop Talk" will take place on Wednesday, October 12 1:00 p.m.-2:00 p.m. ET.

In July, the SEC proposed amendments to Rule 14a-8 (the shareholder proposal rule) by a 3-2 vote.