Securities and Exchange Commission Content

ICI submitted a comment letter to the SEC, responding to its proposed amendments to the definitions of “small fund” and “small adviser” for purposes of the Regulatory Flexibility Act.

ICI released a statement regarding the Securities and Exchange Commission’s Division of Investment Management’s newly released frequently asked questions on collateralized loan obligations.

The SEC’s Form N‑PORT reporting framework has successfully balanced transparency and investor protection by providing regulators with monthly portfolio data while limiting public disclosure to quarterly reports. This approach has made registered funds highly transparent. However, SEC changes adopted in 2024 threaten to upset this balance and could ultimately harm investors.

Unintended Consequences: How Increased Reporting Frequency Can Affect Investors More frequent public disclosure gives market participants additional data points about a fund’s trading strategy...

Public Disclosure: Risks to Investor Costs and Fund Strategies A fund manager’s investment strategy and current holdings are valuable intellectual property, often developed through extensive research...

ICI submitted a comment letter to the Securities and Exchange Commission to expand its principles-based co-investment relief, which was first issued in April 2025—to open-end funds, thereby allowing open-end funds to participate in co-investment transactions alongside private funds under the same updated conditions as closed-end funds and business development companies.

ICI issued a statement applauding Securities and Exchange Commission Chairman Paul Atkins for today’s proposal to modernize the definition of a ‘small entity.’

ICI President and CEO Eric J. Pan released a statement today following Securities and Exchange Commission Chairman Paul Atkins’ remarks on “Revitalizing America’s Markets at 250,” at the New York Stock Exchange.

Investment Company Institute’s President and CEO Eric J. Pan issued a statement on the Securities and Exchange Commission’s order formally allowing the first funds to offer both mutual fund and exchange-traded fund share classes.

The Investment Company Institute submitted a comment letter to the Securities and Exchange Commission to express our strong support for the National Society of Compliance Professionals’ (“NSCP”)...

The Investment Company Institute President and CEO Eric J. Pan released the following statement following the Securities and Exchange Commission’s notice that they intend to grant exemptive relief to offer dual share class funds.