Transfer Agent Advisory Content

The primary, secondary, and NRA layouts (all in excel spreadsheet form) for use by regulated investment companies ("RICs") in reporting 2023 year-end tax information to brokers and banks are available on the Institute's website at: https://www.ici.org/year-end-tax-reporting.

On July 31, the SEC Division of Examinations ("Division") published a risk alert ("Risk Alert") regarding anti-money laundering ("AML") compliance examinations of broker-dealers. The Risk Alert highlights the Division's observations that: some broker-dealers "did not appear to devote...

SEC Issues Proposal on Conflicts of Interest Related to Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers [35390] August 02, 2023 TO: Advertising Compliance Advisory Committee Broker/Dealer Advisory Committee Investment Adviser and Broker-Dealer Standards of...

The next meeting of the Investment Company Institute's (ICI) Transfer Agency Advisory Committee (TAAC) will be held virtually on Wednesday, July 26 and Thursday, July 27. The meeting will take place via Zoom platform in four separate, 90-minute sessions.

Last week, the SEC announced that it has settled an enforcement proceeding against a broker-dealer that failed to maintain approximately 47 million electronic communications created from January through April 2018 that were in about 8700 electronic mailboxes.

At ICI's 2023 Leadership Summit, SEC Chair Gensler delivered remarks which focused on fund dilution and liquidity and how it relates to financial stability, outstanding SEC rule proposals related to money market funds and liquidity risk management, hard close, and swing pricing, and...

ICI's AML Compliance Working Group will hold a videoconference meeting via Zoom on Tuesday, June 20, from 2:00 p.m. to 3:30 p.m. ET. We encourage attendees to use the video option during the meeting. If you prefer not to use the Zoom platform, you may dial into the meeting.

On April 20, 2023, the Securities and Exchange Commission ("Commission" or SEC) staff issued a third staff bulletin ("Staff Bulletin") providing guidance on the duty of care obligations under Regulation Best Interest ("Reg BI") for broker-dealers and under the fiduciary duty standard...

ICI is pleased to announce publication of its white paper, Reaching the Debt Limit: Certain Fund Operational and Legal Considerations. If the US debt limit is not increased in a timely and orderly fashion, the US Government may be considered in default on its obligations as they...