ICI Global carries out the international work of the Investment Company Institute, the leading association representing regulated funds globally. ICI’s membership includes regulated funds publicly offered to investors in jurisdictions worldwide, with total assets of US$29.4 trillion. ICI seeks to encourage adherence to high ethical standards, promote public understanding, and otherwise advance the interests of regulated investment funds, their managers, and investors. ICI Global has offices in London, Hong Kong, and Washington, DC.

What is ICI Global’s unique role?

International regulatory organisations influence funds and capital markets policy worldwide, and fund activities are increasingly global in terms of investments, business strategies, and regulatory concerns. Global investment funds need a strong and informed resource on issues that cross borders. ICI Global offers full, strong support to globally active funds through unbiased research, policy analysis, operations, issues development, and public communications.

What priorities and policy issues does ICI Global address?

The following list encompasses many, but not all, issues on which ICI Global is active.

• Cross-border regulation
  • AIFMD
  • Asia-Pacific cross-border fund distribution
  • Capital gains tax issues
  • Cybersecurity
  • EMIR
  • FATCA and efforts to create a global FATCA-like regime
  • Financial benchmarks
  • Financial transaction tax (FTT)
  • MiFID II
  • Mutual recognition
  • RQFII
  • UCITS
  • US Volcker Rule

• Trading and market structure
  • Capital market development
  • Consolidated tape
  • Dark versus lit markets
  • Derivatives
  • High-frequency and algorithmic trading
  • Order routing and transparency
• Asset management and financial stability
  • Fund and investor behavior
  • G-SIFI and SIFI designation
  • Liquidity and asset management
  • Money market funds
  • Securities lending and repo
• Retirement savings and pension systems
  • Default investment options
  • Investor education
  • System design
  • Target date funds

More information on ICI Global’s policy priorities may be found in our comment letters and ICI Viewpoints blog.

How does ICI Global advocate policy positions?

ICI Global’s senior-level team leverages and builds on ICI’s broad policy and research expertise. As an engaged and respected participant in the global dialogue, ICI Global works on an array of issues with regulators including:

• Financial Stability Board
• International Organization of Securities Commissions
• European Securities and Markets Authority
• US Treasury and other leading national ministries and regulators worldwide
• Organisation for Economic Co-operation and Development
• International Monetary Fund
• Bank of International Settlements
• Basel Committee

What is the leadership structure of ICI Global?

ICI Global is led by Managing Director Dan Waters, who directed asset management policy for the Financial Services Authority (UK), and acted as a key leader within the organisation for more than a decade. Paul Schott Stevens, in his role as President and CEO of the Investment Company Institute, oversees ICI Global, and Qiumei Yang, CEO of Asia Pacific, leads the Hong Kong office.