News Release
ICI Shares Its Retail Investor Priorities with New SEC Chair
Washington, DC, April 14, 2025—Investment Company Institute (ICI) President and CEO Eric J. Pan sent a letter to Securities and Exchange Commission (SEC) Chairman Paul Atkins detailing ICI’s policy recommendations for the newly confirmed SEC chairman as he takes office. The recommendations are focused on strengthening US capital markets, protecting investors, and encouraging innovation.
“ICI warmly welcomes Chairman Atkins back to the SEC and is ready to partner with him and the wider administration as they seek to bring back tailored regulation to the Commission. We’re sharing our top priorities with the chairman today—the items where the actions of the Commission will most quickly and impactfully benefit the 120 million Americans who use investment funds. We also support his review of outstanding and recently adopted proposals that have proven to be difficult to implement and overly costly. We look forward to working with Chairman Atkins as his regulatory agenda develops,” said ICI President and CEO Eric J. Pan.
ICI’s letter to the SEC follows the unveiling of the Institute’s blueprint to modernize the 1940 Act.
ICI’s Commission Rulemaking Priorities
- Restoring the ability of funds to cross trade fixed-income securities;
- Reforming the fund proxy system;
- Updating requirements for in-person voting by fund directors;
- Adopting electronic delivery of information as the default delivery option; and
- Reconsidering and repealing some or all of the recent amendments to the fund names rule.
ICI’s Commission and Staff Action and Exemptive Relief Priorities
- Enabling a new or existing fund to offer both mutual fund and ETF share classes;
- Allowing closed-end funds to more flexibly invest in private funds;
- Updating the framework for fund co-investments; and
- Removing the annual shareholder meeting requirement for listed closed-end funds.
Read the full letter with ICI’s policy recommendations here.