State Issues Content

On October 24th, the Supreme Court of the State of Washington issued an opinion that could subject investment funds to the state's Business and Occupation (B&O) tax.[1] The tax implications for funds could be significant.

The Missouri Secretary of State has voluntarily dismissed its appeal in a recently decided case concerning Missouri Securities Division rules that would have required specified financial professionals to obtain a client's written consent on state-scripted documents before providing...

ICI submitted a comment letter (linked below) on the National Association of Insurance Commissioners' Financial Analysis Handbook Exposure Draft of the Financial Analysis Solvency Tools Working Group.

On August 22, 2024, the Securities Division of the Indiana Secretary of State entered a Cease and Desist Order against an asset manager, asserting that it "appears that [asset manager and its affiliates] have committed securities fraud in violation of" the Indiana Code.

On August 14, 2024, the US District Court for the Western District of Missouri ordered that a set of challenged Missouri Securities Division rules, which required specified financial professionals to obtain a client's written consent on state-scripted documents before providing advice...

On April 10th the ICI submitted the attached comment letter to the Washington Office of the Code Reviser, recommending revisions to an example in the proposed regulations for the Washington Capital Gain Excise Tax.

The Institute's 2023 surveys on state tax matters are now available on the Institute's website.

On September 28, 2023, ICI submitted a letter regarding proposed amendments to the Wyoming Secretary of State's Securities Rules that would "require disclosure of Environmental, Social, and Governance ('ESG') investment strategies by requiring investment advisers [and their...