Fund Accounting & Financial Reporting Content

The Institute's 2024 surveys on state tax matters are now available on the Institute's website.

Last week, ICI sent a letter (linked below) to SEC Chair Gensler, requesting that the SEC (i) suspend the compliance dates for certain recent regulatory actions, (ii) halt work on not-yet-finalized rulemaking, and (iii) extend soon-to-expire relief that would have a significant impact...

On November 7th, the Securities and Exchange Commission's Division of Investment Management Disclosure Review and Accounting Office issued Account and Disclosure Information 2024-141 to address common issues observed in the implementation of the SEC's new requirements for mutual funds...

On September 27, 2024, the Securities and Exchange Commission adopted rule and form amendments related to EDGAR (Electronic Data Gathering, Analysis, and Retrieval system) as part of the "EDGAR Next" initiative.

ICI filed a comment letter on the SEC's proposal to make technical changes to the EDGAR system. The proposal includes requiring electronic filers to authorize and maintain designated individuals as account administrators and manage their accounts on a dashboard on EDGAR.

The SEC adopted amendments to fund reporting requirements on Forms N-PORT and N-CEN and issued guidance on open-end funds' liquidity risk management programs.

As required by the Financial Data Transparency Act of 2022, several federal financial regulators, including the SEC, published a proposal to establish joint data standards. The purpose of the Proposal is to promote the interoperability of financial regulatory data across the Agencies.

In late July, the SEC approved, then shortly thereafter stayed, amendments to FINRA Rule 2210. The amendments would allow a FINRA member firm to project investment performance or provide a targeted return in limited circumstances and subject to certain conditions.

The Office of Information and Regulatory Affairs released the Spring 2024 Unified Agenda of Regulatory and Deregulatory Actions on July 8, 2024. The agenda includes regulatory actions that the Securities and Exchange Commission and Commodity Futures Trading Commission expect to take...