SEC’s Schapiro: Money-Market Funds’ Stable NAV Is a ‘Fiction’
SEC Chairwoman Mary Schapiro reiterated to senators Thursday that further reforms to money-market funds are necessary, saying the funds still “pose a significant risk” to the nation’s economy.
ICI Opposes SEC’s Attempt to Rein In Money-Market Funds
Paul Schott Stevens, president and CEO of the ICI, pointed out two initiatives the ICI is fighting: the SEC’s further attempts to rein in money-market funds, and the CFTC’s amendments to a commodities rule.
SEC’s Schapiro in Dust-Up Over Money Market Conference
The refusal by the agency's chairman to attend a major money market industry conference in Orlando next week is raising concerns that the coming proposal will be sweeping and severe.
SEC’s Money Market Rule Changes Assailed by Fund Companies
ICI’s Paul Schott Stevens warns agency ‘hat trick’ will jeopardize investors, businesses, governments and the economic recovery.
Law That Simplifies Mutual Fund Tax Rules Praised by ICI
Two days before Christmas, President Obama signed into law The Regulated Investment Company Modernization Act of 2010, which updates and simplifies several mutual fund tax rules.
Contrary Positions at ICI Meeting Over Impact of Fiduciary Standard on Mutual Fund Industry
Some mutual fund execs say broad fiduciary mandate would 'damage' the industry
Financial planning experts testify on Obama Administration's reform proposals
Financial industry experts testified Friday before the House Financial Services Committee and provided comment on the Obama Administration's proposed financial regulatory reforms. Among other noted speakers,...
ICI: Drafted House 401(k) bill sets "dangerous precedent"
Investment Company Institute (ICI) President and CEO Paul Schott Stevens chided the House Education and Labor Committee's approval this week of a bill requiring full...
ICI Lays Out Reform Proposals
Investment Company Institute President and CEO Paul Schott Stevens, in testimony before the U.S. Senate Banking Committee, has outlined ICI's detailed proposal on how to...
ICI endorses money market fund reforms
A proposal to reform money market funds to make them "more resilient in the face of extreme market conditions" was unanimously endorsed by the Investment...