Investment Company Institute

ICI applauds the U.S. Securities and Exchange Commission's order permitting the first mutual fund and ETF share class structure, a significant step forward in fostering innovation within the regulated fund industry that can deliver meaningful benefits to fund shareholders. Read more: https://bit.ly/4i7PPpJ

The Investment Company Institute goes to school! Here at ICI we interact with policymakers on a daily basis to strengthen the asset management industry for the benefit of long-term individual investors. One reason we are effective is because ICI staff are world-class experts in the fields of law, economics, and policy. In the best tradition of their professions, several ICI staff spend their free time teaching at leading universities around the United States.   Tara Buckley, Deputy General Counsel, teaches "Investment Management Law" at The Catholic University of America, Columbus School of Law.   Josh Weinberg, Associate General Counsel, teaches "Lessons from Major Compliance Failures" (LAW BK 917) at the Boston University School of Law.   Emily Williams, Senior Economist, co-teaches "Personal Finance: Making Better Decisions and Building a Better Financial System" (Econ 70) at Harvard University.   Jason Seligman, Senior Economist, teaches "Applied Macro and Monetary Economics" and "Applied Financial Analysis" at The George Washington University.    Hammad Qureshi, Senior Economic Adviser, also teaches "Applied Financial Analysis" at The George Washington University. And I continue to co-teach "Derivatives Regulation" (L8418) at Columbia Law School. 

Our November research seminar featured Taha Choukhmane from the Massachusetts Institute of Technology who presented his paper "What Drives Investors' Portfolio Choices? Separating Risk Preferences from Frictions," co-authored with Tim de Silva from Stanford University. Thanks to Dr. Choukhmane for walking us through the research and real-world experiments they conducted to form their analysis!

ICI Chief Economist Shelly Antoniewicz joined Schwab Network to share her insights on macroeconomic and consumer trends ahead of the holiday season. Watch a clip here ⬇️

The U.S. Department of the Treasury's implementation of Trump Accounts should prioritize competition, consumer choice, and operational efficiency, while providing timely guidance to help firms prepare for launch. Read more: https://bit.ly/49PxX0D

Fund ownership remains central to the financial well-being of millions of Americans. Mutual funds and ETFs help families save, invest, and plan for their futures. Read ICI’s research highlighting the important role investment funds play in helping households achieve their financial goals: https://bit.ly/4oEs1MM

Funds regulated under the 1940 Act play a key role in helping Americans build financial security. ICI President and CEO Eric Pan shares how modern updates to the law can foster innovation, expand investor choices, and strengthen protections to meet the needs of today’s investors: https://bit.ly/3XcHRSy   

Thanks to Giovanni Sabatini, EU T+1 Industry Committee Chair, for joining our Securities Operations Advisory Committee meeting to share the latest updates on the move towards a shortened settlement cycle in the EU!

Thanks to Julia Leung, Chief Executive Officer at Hong Kong's Securities and Futures Commission (SFC), ICI board chair Andrew Schlossberg and board member Yie-Hsin Hung, and senior executives from ICI members for joining us in Hong Kong for a discussion about the outlook for the asset management industry in Asia and globally, and the innovations on the horizon to deliver new benefits to investors around the world.

We were thrilled to partner with DCALTA - Defined Contribution Alternatives Association for a dynamic day of discussions on the future of private markets and retirement, hosted at Invesco Ltd.’s Atlanta offices. ICI’s Tom Quaadman, Chief of Government Affairs and Public Policy; John Randall, Senior Director of Operations and Distribution; Elena Barone Chism, Deputy General Counsel; and Kevin Ercoline, Assistant General Counsel, shared valuable insights on the evolving role of private markets in retirement plans, and how ICI and our partners are leading the path forward to expand access for retail investors. Thank you to all participants for an engaging and insightful program. We look forward to continuing these important conversations together!