Regulated Funds Content

ICI recently submitted this letter to the SEC noting that it has issued a wide range of interconnected rule proposals (the "Interconnected Rules") over the last two-and-a-half years but has failed to consider and analyze the Interconnected Rules holistically. We pointed out that, in...

The Investment Company Institute (“ICI”) submitted this comment on the Industry Guidance (the “Guidance”) proposed by the New York Department of Financial Services (“NYDFS”) regarding the presumption of control that applies to both New York chartered depository institutions (“Banking...

Non-bank financial intermediation (NFBI)—encompassing a broad range of capital sources, including broker-dealers, private funds, and open-end funds (OEFs)—is vital for the financing of the real economy, serving as a critical complement to the traditional banking sector. NBFI is...

In July 2022, the SEC proposed amendments to Rule 14a-8 (the shareholder proposal rule) by a 3-2 vote. The proposal would narrow three bases upon which companies may exclude shareholder proposals from their proxy statements: the “substantial implementation,” “duplication,” and...

On August 16, 2022, ICI submitted a comment letter on the SEC's proposal for new disclosure requirements for investment companies and investment advisers. The letter expresses ICI's support for the fundamental goals of the Commission's proposal: to mitigate the risk of greenwashing...

The Independent Directors Council appreciates the opportunity to comment on the Securities and Exchange Commission’s proposal to amend Rule 35d-1 under the Investment Company Act of 1940 (the “Names Rule”). The proposal seeks to expand the universe of funds that are required to adopt...

Last week, ICI filed the attached comment letter on the North American Securities Administrators Association's request for comment on proposed amendments to its Statement of Policy Regarding Real Estate Investment Trusts. Although the proposed amendments would apply most directly to...

For more than 80 years, our part of the financial industry – mutual funds, ETFs, and money market funds – has been one of the most well-regulated and transparent in the world, which is appropriate given our central role in managing money for hundreds of millions of Americans. It is...

I’m sure you noticed that we’ve renamed this conference. What used to be called the “Mutual Funds and Investment Management Conference” is now simply the “Investment Management Conference.” This change reflects a simple reality. While mutual funds still comprise the bulk of our...

Antitrust authorities are considering serious changes to the antitrust rules that, if enacted, would cause significant disruption and new costs for investors saving in mutual funds and other investment products. Yes, they’re startling. Their proposal presents not only a real threat to...