Home Viewpoints
TOPICS
401(k)
Bond Fund
Bonds
Commodity Investments
Corporate Bonds
Cybersecurity
Equity Fund
Equity Investing
Europe
Events
Exchange-Traded Funds
Federal Reserve
Financial Markets
Financial Stability
Fixed Income
Fund Governance
Fund Regulation
GMM
Global
Government Affairs
ICI Global
IDC
IRA
Index Fund
Interest Rate
International
Investment Education
Investor Research
Money Market Funds
Mutual Fund
Operations and Technology
Policy Research
Proxy Voting
Retirement Policy
Retirement Research
Savings
Shareholder
Target Date Funds
Taxes
Trading
Treasury
ARCHIVE
Alibaba’s Joseph C. Tsai in Conversation with Paul Schott Stevens
By Lauri Bearce
June 24, 2019
The world’s two largest economies, the United States and China, need to collaborate on technological innovation to do good for society and to have global impact, Joseph Tsai, Alibaba Group cofounder and executive vice chairman, said at ICI’s 61st General Membership Meeting.
ICI President and CEO Paul Schott Stevens and Tsai kicked off the meeting with an impassioned conversation ranging from technological innovations to US-China relations.
The Age of Alibaba
Stevens asked Tsai to start from the beginning and share the Alibaba creation story. Tsai explained that 18 founding partners—disciples or students of Jack Ma, a former Chinese English teacher—started the company in Ma’s apartment. They had a domain name, a website, and a goal to help small Chinese entrepreneurs sell internationally. Alibaba is now the world’s largest retailer and e-commerce company. It is the technology ecosystem of commerce, cloud computing, digital media, entertainment, and financial services. Tsai emphasized that from day one their mission was, and still is, to help small businesses.
Alibaba’s affiliate, Ant Financial’s Yu’e Bao money market fund, was the next topic of conversation. Yu’e Bao is the largest money market fund in the world, with more than 300 million investors and $30 billion in assets. Tsai noted their robust technology platform as the key to instantaneous settlement of several million transactions a day, which brings down the cost structure. He also highlighted their use of artificial intelligence (AI) to predict daily liquidity demands.
Given the tremendous growth of this fund, Stevens and Tsai talked through some of the recent regulations that the Chinese government has imposed to ensure state-owned bank growth remains healthy. Stevens asked Tsai if he had considered broadening the money market product to other products. Tsai smiled with a nod to his audience, “No, because we don’t want to compete with you guys!” Instead, fund companies use Alibaba’s Alipay app to do business with their 700 million active users.
Future Growth
Given Alibaba’s remarkable growth in the past 10 years, Stevens asked if they would expand outside of China in the future. Tsai explained that China’s current middle class is more than 300 million people—larger that the population of the United States. The fastest-growing segment of the Chinese population is a group of 500 million people who will soon to rise into the middle class. If Alibaba can capture the growth of that segment, they do not have to expand outside of China, Tsai observed.
Tackling where more innovation is taking place—in the United States or China—Tsai concluded that both countries are global innovation leaders. He noted that technology alone cannot drive innovation. “You really need to have the circumstances and you need to have the use cases and the problems. China has a lot of problems and over 800 million users, so it is fertile ground for innovation and growth.” Examining American opportunities for innovation and growth, Tsai noted that the United States has its own set of problems to tackle, and, as an open economy, invites the smartest innovators from all over the world.
US-China Relations
Tsai and Stevens agreed on the need to study the history of established and rising powers so the United States and China can ensure a relationship with mutual advantages going forward. Tsai urged the two countries to work toward a symbiotic relationship—leveraging AI to improve health care, crop yields, the environment, and other shared global issues.
Learn More
Watch this discussion at ICI’s GMM video page. Find more meeting highlights at the GMM highlights page.
Lauri Bearce is senior director of content at ICI.
Permalink: https://www.ici.org/viewpoints/19_view_marketinggmm
TOPICS: GMMGlobalInternational
Global Leaders Discuss Building a Competitive European Union
By Jean-Claire Perini
June 12, 2019
EU policymakers need to have a global mindset if the European Union is to compete and thrive in today’s interconnected marketplace. That’s according to an informative panel at ICI’s 2019 General Membership Meeting in Washington, DC, featuring ICI President and CEO Paul Schott Stevens, Honorary Director General of the European Fund and Asset Management Association (EFAMA) Peter De Proft, and former Secretary General of the International Organization of Securities Commissions David Wright....
TOPICS: GMMICI GlobalInternational
Fund Industry Leaders Encourage Cultural Stability and Willingness to Embrace Change
By Olivia Caverly
May 31, 2019
The mutual fund industry is being driven by change. At this year's General Membership Meeting, the panel “Facing the Future: Leadership Perspectives" highlighted why firms should be encouraging a positive workplace culture, which will enable them to embrace the fast pace of industry change....
TOPICS: GMMOperations and Technology
Parag Khanna Talks Asia at ICI’s GMM
By Miriam Bridges
May 30, 2019
How can powerful nations continue to thrive? By being more connected to Asia, said Parag Khanna, the founder and managing partner of the advisory firm FutureMap. The noted global strategist and author shared this argument and more from his latest book, The Future Is Asian, with the guests at ICI’s 61st General Membership Meeting in Washington, DC, highlighting that Asia is becoming an ever-more important destination for investment....
TOPICS: GMMICI GlobalInternational
In Marketing, Either Adapt or Fall Behind
By Rob Elson
May 30, 2019
Seasoned marketing professionals took to the main stage at ICI’s General Membership Meeting to survey the modern business landscape and unpack strategies for reaching and retaining customers in a digital, data-driven world. Drawing on their unique perspectives, BlackRock’s Frank Cooper III, Salesforce’s Simon Mulcahy, and Nuveen’s Martha “Marty” Willis each shared sharp insights on how the business-to-customer relationship is changing—and on what companies must do to keep ahead of the curve....
TOPICS: GMM
SEC Chairman Jay Clayton Tackles Hot Topics at GMM
By Garrett Hawkins
May 2, 2019
In introducing SEC Chairman Jay Clayton ahead of his highly anticipated appearance at ICI’s 61st annual General Membership Meeting this morning, ICI President and CEO Paul Schott Stevens praised the chairman’s “erudition, dedication, and acumen” in leading the Commission. And during their 40-minute conversation—which tackled some of the top issues facing funds and their investors—each of those qualities was on show.
IBM Expert Demystifies Artificial Intelligence, Touts Its Value for Asset Management
By Jeanne C. Arnold
June 22, 2018
Forget what you’ve heard about artificial intelligence (AI), Tom Eck, chief technology officer for IBM industry platforms, told the crowd at ICI’s 60th annual General Membership Meeting. Despite its depiction sometimes in popular culture as a malevolent force, he said, there is nothing to fear from the technology, which happens to hold great potential for the registered fund industry....
TOPICS: EventsGMMMutual Fund
Young Leaders Reflect on Building a Better Business
By Christina Kilroy
June 21, 2018
Emerging leaders in the asset management industry are at the forefront of changes that will fundamentally affect the business—from technology, to client expectations, to how to attract and retain top talent. During a panel at ICI’s Operations and Technology Conference, held concurrently with the 60th annual General Membership Meeting, three such leaders explored how their firms are rethinking legacy processes and moving into the future....
TOPICS: EventsGMMMutual FundOperations and TechnologyShareholder
Meeting Investors’ Evolving Expectations—and Why Delivering Returns Is No Longer Enough
By Jeanne C. Arnold
June 19, 2018
Serving investors is at the heart of asset management. Yet in today’s technology-driven world, in which personalized services and experiences dominate everything from banking to shopping, asset managers are having to rethink how to best meet the evolving needs of investors and advisers.
During the opening session of ICI’s 60th annual General Membership Meeting, held this year from May 22–24, a group of industry experts took to the stage to discuss the future of the fund industry—and to explain why simply delivering returns is no longer enough....
TOPICS: EventsGMMMutual Fund
How Astronaut Jerry Linenger Found Strength, Perspective During His 132 Days in Space
By Candice Gullett
June 14, 2018
Captain Jerry Linenger has been around the world more than a few times—literally. As a retired US Navy flight surgeon and NASA astronaut posted on Russian space station Mir, he’s seen it all. But you don’t have to go in to space to benefit from Linenger’s insight—he had plenty of wisdom to share with attendees of ICI’s 60th annual General Membership Meeting (GMM), held in Washington, DC, from May 22–24.
TOPICS: EventsGMMMutual Fund
Amy Herman Makes Order out of Chaos with the Art of Perception
By Melanie Cohen
June 11, 2018
Art might not be the first topic that comes to mind when discussing the mutual fund industry, but lawyer and art historian Amy Herman showed that there is a connection to be found after all.
Addressing attendees at ICI’s recent Operations and Technology Conference, held concurrently with ICI’s General Membership Meeting in Washington, DC, from May 22–24, Herman explained that analyzing art requires stepping in closely and asking questions from every angle—a style of observation that also is important for the fund industry…
TOPICS: EventsGMMMutual Fund
Artificial Intelligence Offers Opportunity for Funds and Investors
By Miriam Bridges
June 7, 2018
What’s the future of the financial services workforce and artificial intelligence (AI)? Adam Broun, president and COO of Kensho Technologies, believes that AI will help human beings become better at what they do. “We’re not replacing humans yet in any meaningful way; we’re making people more effective and efficient in what they’re doing,” Broun told the audience at ICI’s annual Operations and Technology Conference, held concurrently with the General Membership Meeting on May 22–24 in Washington, DC.
Kicking off the session, Broun described how Kensho developed its “new economy” indexes and how AI comes into play...
For Good Cybersecurity, Keep Your Eye on the Basics, Says Fidelity’s Chad Renfro
By Todd Bernhardt
June 5, 2018
The computer breaches and hacks that make headlines are typically massive and complicated, and this can lead to the belief that information security solutions must be similarly complex.
But—as Chad Renfro, head of enterprise cybersecurity at Fidelity Investments, told a capacity audience at ICI’s recent General Membership Meeting—good cybersecurity doesn’t have to be complicated or expensive. Instead, he said, companies that make “strategic, optimized investments in cybersecurity” and that focus on the fundamentals can drastically reduce the amount of risk facing their firm…
TOPICS: CybersecurityEventsGMMOperations and Technology
Asset Management Leaders Talk Shop on Markets and Trends—and the Industry’s Gender Divide
By Rob Elson
May 31, 2018
A panel of four leading women in asset management took the stage at ICI’s 60th annual General Membership Meeting last week to share their insights on market outlooks, industry trends, and gender diversity....
TOPICS: EventsGMMInternationalMutual Fund
SEC Commissioner Michael Piwowar: A Commitment to Markets, Shareholders...and Facts
By Rachel McTague
May 24, 2018
SEC Commissioner Michael Piwowar responded with candor to questions posed by ICI President and CEO Paul Schott Stevens during a lively discussion at the final day of ICI’s General Membership Meeting. Piwowar’s announced July 7 departure from the agency offered the outspoken commissioner the opportunity to reflect on fund regulation during his five-year tenure....
TOPICS: Exchange-Traded FundsFinancial StabilityFund RegulationGMMMutual Fund
Jon Meacham’s Leadership Prescription: Curiosity, Humility, and Empathy
By Rob Elson
May 23, 2018
A lunchtime crowd of nearly 1,500 at ICI’s 60th annual General Membership Meeting sat rapt as Pulitzer Prize–winning author and presidential historian Jon Meacham dove deep into what he sees as three virtues that have defined America’s best eras, and that are “essential to any given hour in the republic, both at the top—and for all of us.”
Today’s divisive, contentious environment threatens those virtues, Meacham said, but not because of the division and contention themselves, which he said have been part of America and its system of government from the beginning...
TOPICS: GMM
The Carlyle Group’s David M. Rubenstein: Expanding Horizons, Doing What He Loves
By Miriam Bridges
May 23, 2018
“It’s the rate of return. Everything is the rate of return,” said David M. Rubenstein, cofounder and co-executive chairman of The Carlyle Group, summing up what has fueled the growth and success of the modern private equity business.
TOPICS: EventsGMMMutual Fund
Morgan Stanley’s James Gorman Builds Pride from the Inside Out
By Todd Bernhardt
May 22, 2018
A mental model that James Gorman uses in his role as chairman and CEO of Morgan Stanley involves viewing the world as a series of concentric circles: the innermost circle represents the firm itself, while the subsequent circles represent the industry, the economy, and the political environment that a firm operates within. To succeed, one must build an understanding and mastery of each circle. Only then can one move back toward the middle.
TOPICS: GMMGlobalMutual Fund
Industry Leaders Highlight Opportunities Presented by Industry Change
By Miriam Bridges
June 1, 2017
Shifts in demographics, regulation, investor preferences, and new product offerings are creating a range of opportunities for the asset management industry. In conversations exploring these evolving trends, industry leaders offered their perspectives on how to succeed in these new environments during two insightful sessions on the second day of ICI’s 59th General Membership Meeting, held May 3–5 in Washington, DC.
TOPICS: EventsFund RegulationGMMInternationalMutual Fund
Geopolitics and Global Business: What the Future Holds
By Jeanne C. Arnold
May 31, 2017
The challenges of navigating geopolitical developments while operating a global business took center stage during two key sessions at ICI’s 59th General Member Meeting (GMM), held in Washington, DC, from May 3 to 5.
TOPICS: GMMICI GlobalMutual Fund
A Tech-Enabled Future—and Present—for Investment Advice
By Rob Elson
May 30, 2017
The future of investment advice will lie at the intersection of technology and humanity, said panelists at ICI’s 2017 General Membership Meeting. But those panelists—Eli Broverman, cofounder of Betterment; Kelly Coffey, CEO at JP Morgan’s US Private Bank; and Ben Huneke, head of investment solutions at Morgan Stanley Wealth Management—offered differing views on how much of a role people will play.
TOPICS: CybersecurityEventsFund RegulationGMMOperations and Technology
Top Investment Strategists Sound Optimistic Notes amid Headwinds
By Rob Elson
May 25, 2017
Opportunities abound in today’s market and macroeconomic environment, and it’s up to fund managers to help their investors capitalize on them. That’s the outlook from a panel of world-class investment strategists sharing their insights at ICI’s 59th annual General Membership Meeting, held earlier this month in Washington, DC.
TOPICS: EventsExchange-Traded FundsFinancial MarketsGMMInternationalMutual Fund
Stevens Calls for Measures to Enhance Economic Growth
By Rachel McTague
May 5, 2017
With America striving to achieve greater economic growth, Paul Schott Stevens, ICI president and CEO, called on the Securities and Exchange Commission (SEC) to enhance funds’ essential role in the capital markets by proposing new rules to govern funds’ use of derivatives and by creating a harmonized best-interest standard for advisers providing investment advice to retail and retirement investors. The ICI chief also urged the SEC to adopt a fund disclosure regime for the 21st century.
TOPICS: EventsFinancial MarketsFinancial StabilityFund RegulationGMMMoney Market FundsMutual Fund
Jeff Immelt and GE’s Bid to Own the Future
By Rob Elson
May 4, 2017
“I just couldn’t explain why we owned NBC.”
In only eight words, GE’s Jeff Immelt summed up one of the major catalysts for his transformation of the company during his nearly 16 years as president and CEO. His enlightening, lighthearted conversation with ICI President and CEO Paul Schott Stevens at ICI’s 59th Annual General Membership Meeting—which began yesterday in Washington, DC—dove deep into Immelt’s thinking behind this transformation, the company’s major decisions during his tenure, and his big plans for the company’s future.
TOPICS: EventsGMMInternational
Retired General Stanley McChrystal: Service, Connection, and Flexibility
By Todd Bernhardt
May 3, 2017
When General Stanley McChrystal took over the Joint Special Operations Command (JSOC) in 2003, he was fully steeped in the US Army’s command-and-control philosophy. But he soon learned the need for adaptation. At the 59th annual General Membership Meeting, the retired general spoke of the importance of service, connection, and flexibility.
TOPICS: GMMInternationalMutual Fund
Industry Operations Leaders Address Needs of Investors and Advisers
By Candice Gullett
June 6, 2016
In conversations exploring regulation, demographics, and technology, industry leaders offered their perspectives on serving investors and advisers in an evolving world at ICI’s annual Operations and Technology Conference, held concurrently with the General Membership Meeting on May 18–20 in Washington, DC.
TOPICS: EventsGMMOperations and Technology
Industry Leaders Address Changing Industry Terrain
By Miriam Bridges
June 3, 2016
Will fund industry leaders need to rethink their traditional operating models? Experts shared their views on this question and others, as well as the opportunities presented by a rapidly changing industry, in a candid discussion on the second day of ICI’s 58th General Membership Meeting, held May 18–20 in Washington, DC.
Conducting Business in a Rapidly Changing World
By Jeanne Arnold
June 1, 2016
The global operating environment is evolving and it is critical for corporations to understand the changes afoot if they are to succeed in the 21st century, said Kevin Kajiwara, co-president of Teneo Intelligence, a division of global advisory firm Teneo. Speaking on the final day at ICI’s 58th General Membership Meeting (GMM), Kajiwara gave an overview of the economic and political shifts taking place around the world during his session, “Geopolitical Risks and the Global Economy.” After the overview, he engaged in an insightful question-and-answer session with Tom Faust, chairman and CEO of Eaton Vance Corp.
TOPICS: EuropeGMMInternationalMutual FundTrading
A Changing Landscape for the Fund Industry—and Fund Investors
By Rob Elson
May 27, 2016
Continue to expect change in the investment landscape, with the Federal Reserve, the Millennial generation, and technological evolution all playing major roles.
TOPICS: EventsFederal ReserveFinancial MarketsGMMInterest RateMutual Fund
Ops Leaders Extol the Transformational Power of Data and Analytics
By Todd Bernhardt
May 26, 2016
The evolution of fund companies’ ability to gather and analyze data is creating a revolution in the way that those companies serve their customers, said panelists at “Big Data Initiatives and the Power of the Cloud,” the session that kicked off ICI’s Operations and Technology Conference on May 19 in Washington, DC.
TOPICS: CybersecurityEventsGMMOperations and TechnologyShareholder
The SEC’s Historic Success: Six Key Ingredients
By Paul Schott Stevens
May 20, 2016
This ICI Viewpoints is adapted from ICI President and CEO Paul Schott Stevens’s introduction for SEC Chair Mary Jo White at the 2016 ICI General Membership Meeting on May 20.
More than 80 years have passed since Congress—looking to restore public confidence in markets at the height of the Great Depression—established the U.S. Securities and Exchange Commission (SEC) to administer the federal securities laws enacted as part of President Franklin D. Roosevelt’s New Deal.
TOPICS: EventsFinancial MarketsFund RegulationGMMMutual Fund
SEC Chair White Expects Continued ‘Bright Spotlight’ on Asset Management
By Rachel McTague
May 20, 2016
The U.S. Securities and Exchange Commission (SEC) is contemplating several new initiatives governing registered funds, in addition to adopting rules this year on reporting modernization, liquidity management, and the use of derivatives, SEC Chair Mary Jo White announced at the opening session on the final day of ICI’s annual General Membership Meeting (GMM).
TOPICS: CybersecurityEventsExchange-Traded FundsFinancial MarketsFinancial StabilityFund RegulationGMMInternationalMutual FundShareholder
Walter Isaacson: Where Art Meets Science
By Rob Elson
May 19, 2016
Our world’s greatest innovations, according to Walter Isaacson, can be traced to “people who truly have a sense of what it is to be human…but also feel very comfortable with science and technology, and can make the connection.” And he’s got the evidence to back this belief up.
TOPICS: CybersecurityEventsGMM
GMM Policy Forum: Michael Bloomberg and the Focus on Value
By Todd Bernhardt
May 18, 2016
Businesses and people can both prosper if they focus on providing a service that is unique and that has real value, said Michael R. Bloomberg at ICI’s 58th Annual General Membership Meeting (GMM) today. The noted entrepreneur, philanthropist, and three-term mayor of New York City covered a wide range of topics in a lively back-and-forth with ICI President and CEO Paul Schott Stevens during the meeting’s opening Policy Forum, attended by about 1,500 fund industry leaders.
TOPICS: EventsFinancial MarketsGMMMutual FundShareholder
Cybersecurity: Managing Risk in an Increasingly Connected World
By Todd Bernhardt
June 12, 2015
It’s increasingly obvious that we live in a world where cyber threats are evolving quickly and will remain persistent. But though such risks can never be eliminated, they can be managed, said panelists at ICI’s Operations and Technology Conference, held in conjunction with the Institute’s General Membership Meeting May 6–8 in Washington, DC.
TOPICS: CybersecurityEventsFund GovernanceGMMOperations and Technology
Facing the Future: A Conversation with Former Chairmen
By Candice Gullett
June 11, 2015
On the second day of ICI’s annual General Membership Meeting (GMM), held May 6–8 in Washington, DC, three former ICI chairmen sat down with current ICI President and CEO Paul Schott Stevens to share the lessons they learned over the course of their careers, as well as during their years of service as volunteer leaders at ICI.
TOPICS: EventsGMMMutual Fund
Navigating Regulatory Developments and Meeting Investors’ Needs in a Global Industry
By Jeanne C. Arnold
June 9, 2015
There is a great opportunity for capital markets to develop all over the world, presenting a huge opportunity for the mutual fund industry, according to David Wright, secretary general of the International Organization of Securities Commissions (IOSCO).
TOPICS: EventsFinancial StabilityGMMInternational
How Millennials Are Shaping the Evolution of Investment Advice
By Christina Kilroy
June 2, 2015
The future of investment advice—as embodied in the youngest cohort of working Americans, known as the Millennial Generation—was the focus of a panel of financial services industry leaders at ICI’s 57th General Membership Meeting. The approximately 75 million 18- to 34-year-olds that make up the group have now overtaken Generation X (ages 35 to 50) as the largest generational group in the workforce, according to Pew Research Center.
TOPICS: Equity InvestingEventsGMMInvestment EducationMutual Fund
Fresh Perspectives on a Changing World
By Miriam Bridges
May 29, 2015
Implications of globalization, the impact of the Millennial Generation on product development, the search for alpha in a world full of passive products—these were among the top priorities and concerns of the fund industry discussed by a panel of industry leaders at ICI’s 57th annual General Membership Meeting (GMM), held May 6–8 in Washington, DC.
TOPICS: CybersecurityFund RegulationGMMICI GlobalMutual FundSavings
Build Bridges, Not Walls: An Admiral’s Perspective on Global Security
By Rob Elson
May 27, 2015
If we are to strengthen global security, retired U.S. Navy Admiral James G. Stavridis says, we cannot continue to build walls—we must build bridges instead.
TOPICS: EventsGMMInternational
SEC Chair White Affirms Agency Has Tools to Address Risks in Industry
By Rachel McTague
May 8, 2015
The U.S. Securities and Exchange Commission (SEC) has the tools it needs to address systemic risks to the extent they exist in the asset management industry, said SEC Chair Mary Jo White at the opening session on the final day of ICI’s annual General Membership Meeting (GMM). White also announced that David Grim—who had been serving as acting director of the SEC’s Division of Investment Management—has just been named director of the division. White said she is thrilled that Grim, a 20-year veteran of the SEC in the investment management area, is taking the reins at a time when the Commission is moving forward to implement proactive regulations for the industry.
TOPICS: BondsCybersecurityEuropeEventsExchange-Traded FundsFederal ReserveFinancial MarketsFinancial StabilityFund RegulationGMMGovernment AffairsInterest RateInternationalMutual FundShareholderTreasury
Nooyi’s Purpose, Pepsi’s Performance
By Rob Elson
May 7, 2015
We all have a moral compass. But for PepsiCo’s Indra Nooyi, “the moral compass of our lives must also be the moral compass of our livelihoods.”
Stirring words from the company’s chair and chief executive—and just a few of the many she delivered in a lively Q&A with Vanguard Chairman and CEO Bill McNabb at ICI’s 57th General Membership Meeting, which began yesterday in Washington, DC.
GMM Policy Forum: “It Always Comes Down to Trust”
By Todd Bernhardt
May 6, 2015
Over the 75-year history of the modern mutual fund industry, funds have helped to democratize investing, providing a tremendous array of investing options at a reasonable cost for millions of people. And given rapid advances in technology and the efficiencies that they can bring, the future looks even brighter, said Walter W. Bettinger II at the opening session of ICI’s 57th General Membership Meeting (GMM).
TOPICS: 401(k)EventsFund RegulationGMMMutual FundShareholder
Industry Leaders Address Evolving Industry Challenges and Opportunities
By Miriam Bridges
June 9, 2014
In conversations exploring outcome-oriented investing, the globalization of the fund industry, and the next generation of retirement plans, industry leaders offered their perspectives on serving investors in an evolving world during several insightful sessions at ICI’s annual General Membership Meeting, held in Washington May 20–22.
TOPICS: 401(k)EventsGMMInternationalMutual FundRetirement PolicySavingsShareholder
Adapting to the Rapidly Evolving Cybersecurity Environment
By Todd Bernhardt
June 6, 2014
Because external hackers typically try to “look like an insider” when attempting to penetrate IT systems, “every cyberattack is likely an ‘internal’ attack,” according to Mark Clancy, managing director of technology risk management at the Depository Trust & Clearing Corporation (DTCC).
TOPICS: CybersecurityEventsGMMMutual FundOperations and Technology
Now Off the Hill, Senator Snowe Still Brimming with Ideas, Advice
By Rob Elson
June 5, 2014
U.S. policy is ripe for reform in a number of key areas, but changes to ease the polarized political environment must come first, former U.S. senator Olympia Snowe (R-ME) told the crowd during the final session of ICI’s 56th annual General Membership Meeting (GMM), held May 20–22 in Washington, DC.
TOPICS: CybersecurityEventsFederal ReserveFinancial MarketsFinancial StabilityFund RegulationGMMGovernment AffairsMutual FundRetirement PolicyShareholderTreasury
Industry Leaders Reflect on Serving Investors in an Evolving World
By Christina Kilroy
June 4, 2014
Speaking on the Leadership Panel held Wednesday, May 21, at ICI’s General Membership Meeting (GMM), fund industry leaders agreed that challenges as well as opportunities abound for their businesses in today’s complex world.
TOPICS: 401(k)EventsFederal ReserveFinancial MarketsFinancial StabilityFund GovernanceFund RegulationGMMGovernment AffairsInvestment EducationMutual FundRetirement PolicyShareholder
SEC Chair White Stresses Need for FSOC to Consult Sources for Necessary Expertise
By Rachel McTague
May 22, 2014
Securities and Exchange Commission (SEC) Chair Mary Jo White today called for the U.S. Financial Stability Oversight Council (FSOC) to use outside expertise to the degree necessary in its process of designating systemically important financial institutions (SIFIs). She asserted that it is “enormously important for FSOC, before it makes any decision of any kind, to make sure it has the necessary expertise on any of those issues.”
TOPICS: EventsFederal ReserveFinancial MarketsFinancial StabilityFund GovernanceFund RegulationGMMGovernment AffairsMoney Market FundsMutual FundOperations and TechnologyShareholderTradingTreasury
Headlining ICI’s GMM, Blair Talks of Tough Challenges, Vast Opportunities
By Rob Elson
May 21, 2014
Challenges abound in our increasingly global world, said Tony Blair, former prime minister of the United Kingdom. Yet our future could be brighter than ever, he insisted.
Blair’s stirring words came during a keynote speech at ICI’s 56th General Membership Meeting (GMM). After his opening remarks, Blair sat down with ICI Chairman Bill McNabb, Chairman and CEO of The Vanguard Group, to discuss a range of issues. The session headlined the three-day meeting, which began yesterday in Washington, DC.
TOPICS: 401(k)EventsFinancial MarketsFund RegulationGMMInternationalMutual Fund
GMM Policy Forum: BlackRock’s Larry Fink Speaks with ICI’s Paul Stevens
By Todd Bernhardt
May 21, 2014
The fund industry needs to stop focusing on the moment and start focusing on outcomes when advising investors on their resources, said Laurence D. Fink, chairman and CEO of BlackRock, at ICI’s Annual Policy Forum, part of the Institute’s 56th General Membership Meeting (GMM).
TOPICS: 401(k)BondsEventsFinancial MarketsFund RegulationGMMInternationalInvestment EducationMutual FundRetirement PolicySavingsShareholderTreasury
Navigating a Changed—and Global—Industry
By Jeanne C. Arnold
May 23, 2013
Navigating the ever-changing landscape and increasingly global nature of the fund industry took center stage during several panels at ICI’s 55th General Member Meeting (GMM).
U.S. Could Quickly Solve Its Budgetary Problems, Say Former Senators
By Todd Bernhardt
May 20, 2013
The United States is tantalizingly close to solving its budgetary problems, according to former U.S. senators Kent Conrad (D-ND) and Judd Gregg (R-NH).
GMM Panelists Discuss Retirement Savings and Financial Education
By Miriam Bridges
May 17, 2013
Americans need greater access to savings vehicles and better financial education to help ensure that they use them effectively, fund industry experts told attendees at the 55th Annual General Membership Meeting.
TOPICS: EventsGMMInvestment EducationSavings
GMM Panelists Share Tips on Strengthening Cybersecurity
By Andrew Gillies
May 7, 2013
Cybersecurity gained prominence as a topic of discussion at ICI’s General Membership Meeting (GMM), held last week in Washington, DC. “Hugely important,” said Mary John Miller, the Treasury Department’s under secretary for domestic finance, in her GMM remarks.
TOPICS: CybersecurityEventsGMM
SEC Is Integrating Itself into the Global Financial System, Chairman White Tells ICI Conference
By Rachel McTague
May 3, 2013
In a speech at ICI’s General Membership Meeting today, Securities and Exchange Commission (SEC) Chairman Mary Jo White highlighted the myriad ways that the SEC, in light of an increasingly global regulatory environment, pursues its mission to protect U.S. investors and markets and to promote capital formation.
Luncheon with Keynote Speaker: Lloyd C. Blankfein in Conversation with Paul Schott Stevens
By Andrew T. Gillies
May 2, 2013
If Lloyd Blankfein were in charge of the U.S. economy, what would he be most afraid of?
GMM Policy Forum
By Andrew T. Gillies
May 1, 2013
Addressing America’s fiscal challenges will require both raising revenue and cutting government spending, said Mary John Miller, the U.S. Treasury Department’s Under Secretary for Domestic Finance, at the Policy Forum of ICI’s 55th annual General Membership Meeting (GMM).
Copyright © 2019 by the Investment Company Institute