The Investment Company Institute of Washington, D.C., has suggested changes in an SEC rule proposal governing how mutual funds oversee their securities held in foreign countries. The ICI said it was troubled by language in the proposed amendment to rule 17f-5 of the Investment Company Act and a proposed new rule 17f-7. Together, the rule proposals, which require a fund's global custodian to monitor the risk of using sub-custodians in foreign countries under certain circumstances, could effectively prohibit funds from investing in some countries, the ICI said. The SEC should adopt language in the rule making it clear that funds could use a foreign sub-custodian, despite risks associated with the firm, the ICI said in a letter dated July 15 to the SEC.
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The SEC opened public comment on Regulation E-Delivery, a proposal that would replace its decades-old guidance-based framework and make electronic delivery the default for required investor disclosures.
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Pat Brown of Creative Planning and Financial Literacy for Student Athletes is pitting competitive players against each other as part of his new "Athlete Finance League."
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A Deloitte analysis shows that alternative allocations — to private equity, private credit and other vehicles — in DC plans could grow quickly.
July 21 -
Six advisors reflect on what they wish they'd known earlier — from speaking up sooner to thinking longer term to learning that the best question beats the best answer.
July 21 -
SEI may not be the first firm that comes to mind when thinking about the industry's custodians, but the firm has built a substantial client base of financial advisors over more than 30 years.
July 21 -
Schwab directly or indirectly manages only 2% of the $37 trillion in U.S. wealth that could be in the hands of advisors, according to CEO Rick Wurster. The size of the opportunity means there is no need to compete with the firm's RIA clients.
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