ICI’s Board of Governors elected Edward C. Bernard to serve as Chairman. Bernard is Vice Chairman of T. Rowe Price Group and succeeds John V. Murphy, Chairman of OppenheimerFunds.

Reinforcing points made in its Report of the Money Market Working Group, ICI said the stable $1.00 NAV provides convenience and simplicity for shareholders.

In briefs filed yesterday, ICI urged the U.S. Supreme Court to endorse the legal framework used since the 1980s to evaluate excessive-fee claims, while IDC’s brief explained the significant role independent directors play in reviewing investment advisory agreements.

In testimony before the U.S. Senate Banking Committee, ICI's Paul Schott Stevens detailed his vision of an effective "Systemic Risk Council" that would anticipate and address emerging threats.

In testimony before the U.S. Senate Banking Committee, ICI's Paul Schott Stevens detailed his vision of an effective "Systemic Risk Council" that would anticipate and address emerging threats.

ICI has advocated for better 401(k) disclosure for over 30 years, Paul Schott Stevens writes in a MoneyVoices column carried by Ignites. “[M]arket turmoil and losses of the past two years have only made the case more compelling."

The financial crisis highlights the importance of public confidence and balanced regulation, Paul Schott Stevens says.

In testimony before the House Education and Labor Committee, ICI President and CEO Paul Schott Stevens discussed ways to preserve and strengthen the 401(k) system.

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