Overview
The fund industry plays an important role in Americans’ investment and savings, managing $25.8 trillion through mutual funds, exchange-traded funds, closed-end funds, and unit investment trusts.
Asset management is an agency business. This means that firms manage, but do not own, the assets that they invest on behalf of funds or other clients. Asset managers generally decide where and how to invest assets on behalf of their investors—but any profits or losses belong to the investors, not the manager. As regulators in the United States and around the world discuss systemic risk and consider imposing new regulations on asset managers that could ultimately be paid for by fund investors, this is an important distinction for policymakers and the public to understand.
ICI and its members remain committed to the promotion of financial stability; to sensible, deliberate, and data-driven regulation; and to advancing the public understanding of mutual funds and the key role they play in the financial system. This resource center contains the latest news, analysis, and resources from ICI and others on the regulatory developments around financial stability and the asset management industry.
Committees & Working Groups
ICI Contact List
News & Publications
News & Publications
A System That Works: Turning Europe’s Savings Into Investments
Securitisation and the Market Integration and Supervision Package in Europe is discussed in this op-ed as both being required for the Savings and Investments Union to turn savings into productive investments.
SEC Should Adapt Off-Channel Communications Rules for 21st Century
The Securities and Exchange Commission should modernize the Recordkeeping Rule under the Investment Advisers Act of 1940 to better reflect the realities of modern technology, ICI wrote in a joint letter with the Investment Adviser Association today.
At ICI Summit, Hassett Details New Trump Executive Order Expanding Retirement Saving
ICI President & CEO Eric J. Pan in a fireside chat with National Economic Council Director Kevin Hassett at the 2026 ICI Leadership Summit. President Trump’s National Economic Council Director, Kevin...
You’ve got really one of the most legendary organizations in America. If you think about...
The conversation turned to Trump Accounts, the program creating tax-advantaged investment accounts for American children. Hassett described implementation as a top Administration priority and made the...
ICI Welcomes Focus on Expanding Retirement Saving
ICI released a statement regarding President Trump’s executive order expanding workers’ access to retirement accounts.
Policy & Regulatory Updates
Policy & Regulatory Updates
Joint Comment Letter to the SEC on Recordkeeping Requirements for Investment Advisers
ICI and the Investment Adviser Association submitted a joint letter to the SEC to express support for modernizing the books and records rule under the Investment Advisers Act of 1940.
ICI Comment Letter to the DOL on E-Delivery Safe Harbors
ICI submitted a comment letter to the Department of Labor responding to its proposal to make narrow amendments to the Department’s two existing electronic delivery safe harbors for providing required notices and disclosures to ERISA plan participants, as directed by Section 338 of the SECURE 2.0 Act.
ICI Comment Letter on SEC's Proposed Form N-PORT Proposal
ICI submitted a comment letter to the Securities and Exchange Commission on its proposed Form N-PORT amendments.
Supplemental Comment Letter on the CFTC's Proposal Regarding Margin Requirements for Uncleared Swaps
ICI and SIFMA submitted a supplemental comment letter to the Commodity Futures Trading Commission (CFTC) on the proposed amendments to the CFTC’s initial margin requirements for uncleared swaps.
Member Resources
Member Resources
Joint Comment Letter to the SEC on Recordkeeping Requirements for Investment Advisers
ICI and the Investment Adviser Association submitted a joint letter to the SEC to express support for modernizing the books and records rule under the Investment Advisers Act of 1940.
ICI Comment Letter to the DOL on E-Delivery Safe Harbors
ICI submitted a comment letter to the Department of Labor responding to its proposal to make narrow amendments to the Department’s two existing electronic delivery safe harbors for providing required notices and disclosures to ERISA plan participants, as directed by Section 338 of the SECURE 2.0 Act.
ICI Comment Letter on SEC's Proposed Form N-PORT Proposal
ICI submitted a comment letter to the Securities and Exchange Commission on its proposed Form N-PORT amendments.
Supplemental Comment Letter on the CFTC's Proposal Regarding Margin Requirements for Uncleared Swaps
ICI and SIFMA submitted a supplemental comment letter to the Commodity Futures Trading Commission (CFTC) on the proposed amendments to the CFTC’s initial margin requirements for uncleared swaps.