Frequently Asked Questions About ICI Global
What is ICI Global?
ICI Global is the global affiliate of the Investment Company Institute. ICI Global’s members are regulated funds publicly offered to investors in leading jurisdictions worldwide. ICI Global seeks to advance the common interests and promote public understanding of global investment funds, their mangers, and investors. Members of ICI Global manage total assets in excess of US $1 trillion. ICI Global is headquartered in London and has an office in Hong Kong.
What is ICI Global’s unique role?
International regulatory organizations increasingly influence global fund and capital markets policy, and fund activities are increasingly global in terms of investments, business strategies, and regulatory concerns. Yet no current fund association exclusively focuses on the perspective of globally active funds. Global investment funds need a strong and informed resource on issues that cross borders. ICI Global offers full, strong support via unbiased research, policy analysis, operations, issues development and public communications.
What priorities and policy issues does ICI Global address?
The following list encompasses many, but not all, issues on which ICI Global is active.
- Transnational Fund Regulation
- Volcker Rule
- FATCA and efforts to create a global FATCA-like regime
- Financial Transaction Tax (FTT)
- Third country access
- Transparency waivers
- Mutual recognition
- Financial benchmarks
- Market Structure and Trading. View of long-term buy side re:
- Order routing and transparency
- Dark vs. lit markets
- Consolidated tape
- High frequency and algorithmic trading
- Swaps and derivatives
- Role of Funds in Financial Stability
- Money market funds
- Securities lending and repo
- Other “shadow banking” issues
- Asset management and financial stability
- Retirement Savings and Pension Systems
- Target date funds
- Default settings
- Investor education
- System design
How does ICI Global advocate policy positions?
ICI Global’s senior-level team leverages and builds on ICI’s broad policy and research expertise. As an engaged and respected participant in the global dialogue, ICI Global works on an array of issues with regulators including:
- The Financial Stability Board
- The International Organization of Securities Commissions
- The European Securities and Markets Authority
- U.S. Treasury and other leading national ministries and regulators worldwide
- Organization for Economic Cooperation and Development
- International Monetary Fund
- Bank of International Settlements
- Basel Committee
What is the leadership structure of ICI Global?
ICI Global is led by Managing Director Dan Waters, who directed asset management policy for the Financial Services Authority (UK), and acted as a key leader within the organization for more than a decade. Paul Schott Stevens, in his role as president and chief executive officer of the Investment Company Institute, oversees ICI Global. A steering committee of global fund leaders also guides ICI Global.