Transfer Agent Advisory Content

For the thirteenth year in a row, the Securities and Exchange Commission's Division of Examinations has published its examination priorities for the coming year. While the Division has historically published these exam priorities near the beginning of the calendar year, this is the...

The ICI Spreadsheets and instructions for use in reporting 2024 tax information are available on the ICI website, at: https://www.ici.org/year-end-tax-reporting. ICI members populate tax information in these spreadsheets on behalf of the regulated investment companies that they manage...

The Internal Revenue Service and US Treasury Department issued final procedural regulations on the stock buyback excise tax on June 28th. The final regulations generally require a covered corporation to file an excise tax return (on Form 7208) reporting share repurchases and issuances...

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...

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.

On April 8, 2024, a group of ICI staff participated in a telephone meeting with representatives from the White House's Office of Management and Budget (OMB) and the Department of Labor (DOL) to discuss DOL's fiduciary investment advice package.

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...