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News Release

ICI: FSOC Proposals Raise Serious Concerns

July 27, 2023: ICI President and CEO Eric Pan released the following statement on the Financial Stability Oversight Council’s (FSOC) proposals to develop an analytic framework for financial stability risk identification and change the process to designate a non-bank as a systemically...
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Comment Letter

ICI Comment Letter Regarding FSOC Proposals

In this letter, we highlight serious concerns with the Council’s approach. As compared with the Current Guidance, the Proposals take a step backward in terms of the rigor required of FSOC’s analyses of perceived risks to financial stability and appear to lower the bar for Council...
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Memo#
35375

SEC Adopts Money Market Fund Reforms

On July 12, 2023, the Securities and Exchange Commission, in a 3-2 party-line vote, adopted amendments to Rule 2a-7 and certain other rules that govern money market funds under the Investment Company Act of 1940. According to the SEC's adopting release (Release), the amendments are...
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Memo#
35326

SEC Chair Gensler's Remarks Before ICI's Leadership Summit

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...
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Memo#
35312

SEC Adopts Amendments to Form PF

On May 3, 2023, the Securities and Exchange Commission (SEC or the "Commission") adopted a final rule amending Form PF, the confidential reporting form for certain registered investment advisers to private funds. Form PF provides information to the SEC and the Financial Stability...
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Memo#
35262

Member Videoconference: ICI White Paper on US Debt Limit

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...