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ARCHIVE
New Law Will Make Funds More Efficient and Reduce Need for Amended Tax Returns
By Ianthe Zabel
December 23, 2010
ICI President and CEO Paul Schott Stevens made the following statement upon the enactment of H.R. 4337, a bill that updates and simplifies a number of mutual fund tax rules:
“We applaud President Obama for signing into law this important bill that will make funds more efficient and reduce the need for investors to file amended tax returns related to their investments. The Regulated Investment Company Modernization Act streamlines and updates technical tax rules, allowing fund companies to focus on innovating and serving shareholders. ICI has long supported Congress’s efforts to clarify and streamline mutual fund tax rules, and we are pleased that Congress acted expeditiously and in a bipartisan manner to modernize these laws.”
- Learn more about ICI’s tax policy work.
- Learn more about ICI’s government affairs work.
- Learn more about ICI’s work on H.R. 4337.
- Find more background on H.R. 4337 from law firm Stradley Ronon Stevens & Young, LLP.
Ianthe Zabel is ICI’s Senior Director for Media Relations.
TOPICS: TaxesGovernment Affairs
ICI Supports House Vote on Bill to Update Mutual Fund Tax Laws
By Ianthe Zabel
December 17, 2010
ICI President and CEO Paul Schott Stevens made the following statement about recent U.S. House of Representatives approval of H.R. 4337, as amended and approved by the U.S. Senate.
TOPICS: TaxesGovernment Affairs
Enactment of Tax Bill Extending Current Tax Rates on Investments Comes at Critical Time and Brings Certainty
By Ianthe Zabel
December 17, 2010
ICI President and CEO Paul Schott Stevens today issued the following statement on enactment of a tax bill that will maintain and extend the current tax rates on capital gains and dividends for two years...
TOPICS: TaxesGovernment Affairs
Proposed SEC Whistleblower Program Could Backfire
By ICI Viewpoints
December 17, 2010
Today we filed a comment letter on the Securities and Exchange Commission’s proposed new whistleblower rules. Our letter registers the Institute’s very serious concerns about the unintended consequences that will likely result from the program, given its proposed design.
TOPICS: Fund Regulation
Equity Market Issues: Our Industry Must Be Challenged, Too
By Karrie McMillan
December 9, 2010
ICI is hosting its annual Equity Markets Conference in New York City today. To get the conference started, I urged everyone to keep one number in mind: 90 million. That’s the number of investors who are saving for their futures through the funds that ICI members offer.
TOPICS: Financial Markets
ICI Applauds Senate Approval of Bill to Modernize Mutual Fund Tax Laws
By Ianthe Zabel
December 9, 2010
ICI President and CEO Paul Schott Stevens made the following statement about recent U.S. Senate approval of H.R. 4337.
TOPICS: TaxesGovernment Affairs
Fund Investors, Economy Will Benefit From Certainty and Lower Tax Rates on Investments
By Ianthe Zabel
December 9, 2010
ICI President and CEO Paul Schott Stevens today issued the following statement on the tax legislation, H.R. 4853 as amended, approved by the U.S. Senate in a strong bipartisan vote.
TOPICS: TaxesGovernment Affairs
ICI and IDC Oppose SEC’s One-Size-Fits-All Approach to Proxy Access
By ICI Viewpoints
December 8, 2010
TOPICS: Fund Governance
SEC Considerably Understates Costs of Rule 12b-1 Reform Proposal
By ICI Viewpoints
December 1, 2010
Following up on our November comment letter to the Securities Exchange Commission, ICI conducted and submitted our own cost-benefit analysis of the SEC’s proposal to replace Rule 12b-1.
TOPICS: Fund GovernanceFund Regulation
New ICI Report Shows the Key Role IRAs Play in U.S. Retirement Saving
By ICI Viewpoints
December 1, 2010
Americans are accumulating significant resources in individual retirement accounts (IRAs) largely through rollovers from employer-sponsored retirement plans, according to an ICI report published today.
TOPICS: Retirement Research
Candor, Compromise, and Equity Must Guide Policymakers as They Meet Challenges of Aging Societies
By Paul Schott Stevens
November 29, 2010
In London today, at a hearing room of the House of Commons, I addressed The Henry Jackson Society, a nonpartisan think tank focused on human rights, constitutional democracy, and institutional reform.
TOPICS: Retirement Policy
EBRI/ICI: Average 401(k) Account Balance Among Consistent Participants Rose Nearly 32 Percent in 2009
By ICI Viewpoints
November 22, 2010
The average 401(k) retirement account rose 31.9 percent in 2009, according to a report released today by the Employee Benefit Research Institute (EBRI) and the ICI analyzing a group of consistent participants.
TOPICS: 401(k)Retirement Research
New ICI Study Finds Private-Sector Retirement Plans Play Increasingly Important Role Across All Incomes
By ICI Viewpoints
November 18, 2010
Data in a new ICI study show that across all income groups, private-sector retirement income is more prevalent among retirees today than in the mid-1970s.
TOPICS: Retirement Research
ICI Warns Against “Piecemeal” Approach to Municipal Securities Disclosure
By ICI Viewpoints
November 16, 2010
The Institute filed a comment letter today with the Securities and Exchange Commission on its proposals to improve disclosure for asset-backed securities. Our view broadly is that the proposals will help mutual funds assess risks.
TOPICS: Financial Markets
U.S. Retirement Success Can Aid in EU Pension Modernization
By ICI Viewpoints
November 15, 2010
Understanding the successes of the U.S. retirement savings framework can aid European regulators as they consider reform of pension systems in the European Union, ICI said in a comment letter.
TOPICS: Fund RegulationInternational
Kauffman Foundation Paper Makes Accusations That Are Not Plausible
By ICI Viewpoints
November 15, 2010
A November 2010 paper on U.S. capital markets from the Kauffman Foundation shows a fundamental misunderstanding of how exchange-traded funds (ETFs) operate. The authors are respected industry authorities, and they offer some ideas that merit further consideration. But the paper levels several accusations against ETFs that are just not plausible.
TOPICS: Financial Markets
ICI Research Shows How Funds Have Addressed Changing Mix of Proxy Proposals
By ICI Viewpoints
November 10, 2010
New ICI research on trends in proxy voting by mutual funds finds that the 2007–2009 financial crisis altered the mix of proxy proposals funds voted on. Our economists’ examined more than 10 million fund votes cast during this period.
TOPICS: Fund Governance
12b-1 Proposal Misses the Mark
By ICI Viewpoints
November 5, 2010
Today, ICI filed its comment letter on the Securities and Exchange Commission’s proposal to replace Rule 12b-1. While our letter commends the SEC for addressing some legitimate concerns with Rule 12b-1, we question the proposal’s timing and breadth, calling it far more extensive and intrusive than necessary.
TOPICS: Fund Regulation
Companies Should Be Designated as “Systemically Significant” Only in Limited Circumstances
By ICI Viewpoints
November 5, 2010
The newly-created Financial Stability Oversight Council (FSOC) has been tasked with determining which nonbank financial companies are systemically significant and therefore require additional regulatory scrutiny. The FSOC has asked for input regarding the specific criteria and analytical framework it should use in making those designations.
TOPICS: Financial MarketsFund Regulation
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