Fund Operations Content

[36138] September 09, 2025 TO: ICI Members Investment Company Directors Alternative Closed-End Fund Working Group AML Compliance Working Group Chief Compliance Officer Committee Chief Risk Officer Committee Closed-End Investment Company Committee Compliance Advisory Committee Crypto...

In April, the Office of Management and Budget (OMB) issued a request for information on deregulation. The RFI seeks comment on "regulations that are unnecessary, unlawful, unduly burdensome, or unsound" and specifically asks commenters to identify rules to rescind.

On Friday, April 4, 2025, the SEC Staff noticed the application filed by FS Credit Opportunities Corp., et. al, relating to principles-based, co-investment exemptive relief. The application had originally been filed February 21, 2025, and amended on March 20 and April 3. The notice...

The SEC adopted amendments to the Fund Names Rule in September 2023. The compliance dates for the Amendments are currently December 11, 2025 for larger entities and June 11, 2026 for smaller entities.

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...

For the thirteenth year in a row, the Securities and Exchange Commission's Division of Examinations has published its examination priorities for the coming year. While the Division has historically published these exam priorities near the beginning of the calendar year, this is the...

ICI submitted an analysis of tax implications resulting from recent SEC money market fund reforms to the U.S. Treasury and requested a meeting to discuss these tax issues.

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.

On June 26th, the Fifth Circuit Court of Appeals vacated those 2022 SEC proxy advice amendments that rescinded the 2020 amendments—called the "notice-and-awareness" conditions.

The Department of the Treasury published in the Federal Register a request for information on uses, opportunities, and risks of artificial intelligence (AI) in the financial services sector. The RFI uses a broad definition AI, which Treasury views as encompassing "a wide range of...