Reimagining the 1940 Act

It has been more than 30 years since the Securities and Exchange Commission (SEC) last reviewed the regulatory framework of the Investment Company Act of 1940 (1940 Act) and recommended reforms. The SEC should update this framework to ensure 1940 Act funds—including mutual funds, exchange-traded funds (ETFs), and closed-end funds— continue to support middle-class wealth creation.

Over the past three years, ICI has developed a blueprint for reform. Check out these resources below to learn more.