ICI

2025 brought in a whirlwind of changes to tax law, and our panel featuring @Fidelity's Jon Davis, @ameriprise's Victoria Pinsky, @PwC's Megan Wood, and ICI’s Mike Horn was here to cover it all! Thanks to our panelists for sharing their insights on the latest trends in ETFs, to the potential impact of the GROWTH Act. #ICIIMC

@InvescoUS @DavisPolkReg @HennessyFunds Read ICI’s recent report on the need for reform the fund proxy system here: bit.ly/4bpqrd

“The problem is not yes votes, it’s just getting the votes.” – Amy McDonald, ICI The fund proxy system is increasingly costly, inefficient, and outdated. Our panel featuring @InvescoUS' Adam Henkel, @DavisPolkReg's Elise Dolan, @HennessyFunds Terry Nilsen, and ICI’s Kelly O'Donnell and Amy McDonald highlighted the high costs of executing fund proxy campaigns, and the urgent need to reform the system to benefit shareholders.

#ICIIMC: ICI’s Tara Buckley led a panel on managing conflicts across investment products with Morgan, Lewis & Bockius’ Christine Schleppegrell, @PaydenRygel Reza Pishva, @groomlawgroup Kevin Walsh, and @TRowePrice Francine Rosenberger. Insights covered SMAs, CITs, and registered products, with a focus on SEC priorities and strengthening compliance and risk management.

“My pet peeve with this whole thing is that you’re taxing unrealized gains. I’m not realizing the gains! I am reinvesting them immediately!” Andy Blocker, @EdwardJones, emphatically stresses why the GROWTH Act is a commonsense solution. #ICIIMC

The GROWTH Act will “help with wealth creation and affordability. We have the messaging on our side. It’s not like just a tax break, it’s actually something that’s good for most middle America,” shared @EdwardJones’ Andy Blocker. #ICIIMC

“Please make electronic delivery the default options so they don’t have to go on and recycle all the paper from the required shareholder delivery.” - Catherine Newell, @dimensional #ICIIMC

Andy Blocker highlights two @EdwardJones priorities: "everyone's for e-delivery here, in some form or another," and the GROWTH Act which he says can "changes lives of their millions of clients, twinning health with wealth to help Americans." #ICIIMC

.@TRowePrice's Bob Grohowski shares that the legislation allowing 403(b)s to invest in CITs "is an interesting bill, it makes a ton of sense. We have large 403(b) clients who are frustrated by their inability to use these vehicles. So that's a top priority for us...anything that increases coverage and affordability for retirement savers." #ICIIMC

We may be in Palm Desert, but what's happening in DC is on everyone's mind! Our #ICIIMC Capitol Insights panel, featuring ICI's Tom Quaadman, @TRowePrice's Rob Grohowski, @EdwardJones's Andy Blocker, and @dimensional's Catherine Newell, is diving into the latest policies and regulations shaping the industry.

Emerging Leaders at #ICIIMC came together for a lunch session on The Art of Professional Communication, moderated by ICI’s Kevin Coroneos with ICI President & CEO Eric Pan and @Allspring's Chrishon McManus. The discussion highlighted how effective communication—from navigating AI to managing across generations—builds credibility, trust, and supports career growth.

Up next at #ICIIMC: The Future of Digital Assets & Implications for the Fund Industry, moderated by ICI’s Tim White with @FTI_Global's Roger Bayston, Dechert’s Brendan Carroll, @WisdomTreeFunds Ryan Louvar, and former @SECGov Troy Paredes. Panelists unpack how digital assets are reshaping funds—from SEC guidance and custody to tokenization, DeFi, and what it means for asset managers.

Deepa Damre Smith, @MatthewsAsia, references ICI's recent proxy fund report that shows that since 2020, total estimated costs for fund proxy campaigns range from $650 million to $1 billion. Read the report here: bit.ly/4bpqrdu #ICIIMC

Sarah ten Siethoff shares that the @SECgov "100% knows the benefits and cost savings" of cross trading. "Like many rules we have on conflicted transactions, it's how we achieve the benefits while managing conflicts. We did put out a letter requesting comment...and trying to think through a good framework to manage conflicts." #ICIIMC

“Let’s move forward with e-delivery as the default. Please put me on team: take the win," laughs @Vanguard’s John Schadl, encouraging the @SECgov to introduce their e-delivery proposed rule. #ICIIMC

“Since we don’t yet have anything out…What would you at your firms like [the e-delivery proposed rule] to look like, and then have that in mind when we do put something out and look at it and say, is that going to allow me to do that?” – Sarah ten Siethoff, @SECgov #ICIIMC

.@SECgov’s Sarah ten Siethoff shares any forthcoming e-delivery rule is a great opportunity to think how “e-delivery could be future-proofed or made more modern. We will certainly try to be tech neutral.” #ICIIMC

.@Vanguard's John Schadl follows up, emphasizing that cross-trading reduces friction as one fund is a natural seller and another is a natural buyer—and forcing those trades into the market puts you into two different disadvantaged trades. #ICIIMC

.@StradleyRonon's Sara Crovitz shared that ICI's estimates showed that cross-trading in 2020 saved investors $330 million. #ICIIMC

Deepa Damre Smith, @MatthewsAsia, cites ICI’s estimate that “e-delivery would save the industry $589 million to almost $800 million annually.” #ICIIMC