Broker-Dealer Issues Content

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Committee

Broker-Dealer Advisory Committee

The Broker/Dealer Advisory Committee (BDAC) provides a forum to identify ways to improve the distribution, operational processing, servicing, and support of registered fund products. Such efforts are to better serve the needs of both shareholders and the larger funds industry.
ICI Default BG
Memo#
36026

Intermediary Transparency DTCC Omni/SERV

BTRAC fund members identified in early 2020 that improved transparency from the bank, trust, custody, and retirement channel is needed to better manage responsibilities for fund investors.
ICI Default BG
White Paper

Interval Fund Repurchase Timeline

Through a series of white papers, the ICI Broker/Dealer Advisory Committee’s (BDAC) Interval Funds Task Force (Task Force) has educated stakeholders about the unique operating needs and requirements of interval funds. While most interval funds are continuously offered, the fund may...
ICI Default BG
Memo#
35718

SEC Adopts Amendments to Regulation S-P

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.
ICI Default BG
Memo#
35657

Massachusetts Court Validates Fiduciary Conduct Standard Regulations

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...
ICI Default BG
Memo#
35649

Wyoming Finalizes ESG Investing Rules

Parts of the rules package proposed by Wyoming Secretary of State Chuck Gray on Environmental, Social, and Governance ("ESG") investment disclosure and consent went into immediate effect on February 27, 2024 and require compliance as of that date.