Swing pricing that would let funds adjust the price investors get when selling shares will be included in a broader proposal to be considered by the SEC on Tuesday. Mutual-fund investors who rush to cash out during periods of market turmoil could find it costlier to do so under the rule. Backers of the measure say it could temper investors' impulse to flee when conditions make it seem likely that asset prices will fall. Regulators' concern about the impact of economic shocks has grown as mutual funds increasingly invest in less-liquid assets that would be tougher to sell in a market rout. The SEC's proposal would allow funds to pass along trading costs to retreating investors, resulting in payouts slightly below the stated price per share, or net asset value.
21 Sep 2015
Week InAdvance
please join us...
WEDNESDAY, SEP 23
Mortgage Securitization Council Telecon
4-4:30 pm ET

THURSDAY, SEP 24
Cyber Security Council In-Person
11am - 2pm ET
Boston, Massachusetts
for details & call-in info...
Matthew Jones
Staff Director
mjones@association.institutionalINVESTORS.org
(202) 712-9050
save the date...
MONDAY, SEP 28
Trading Executives Council Telecon
2pm - 3pm ET

TUESDAY, SEP 29
Derivatives Council Telecon
11am - noon ET

WEDNESDAY, SEP 30
Monthly Membership Telecon
4:30 - 5 pm ET
(Held on the last Wednesday of each month)

TUESDAY, NOV 17
2015 Fall Market Practices in-Person
8:30 am to 1:30 pm ET
Boston, Massachusetts
week in brief
MONDAY, SEP 21
FSOC meets in executive session to discuss work on asset management and central counterparties. IMF hosts event with Managing Director Christine Lagarde, General Counsel Sean Hagan, N.Y. Fed EVP Sarah Dahlgren.

TUESDAY, SEP 22
SEC considers new rule requiring liquidity risk-management programs for open-end management investment companies. CFTC advisory panel meets on speculative position limits for agricultural commodities. Senate Judiciary Commttee hearing on consolidation in the health insurance industry.

WEDNESDAY, SEP 23
Congress out for Yom Kippur. Officials from Labor and Education departments and GAO scheduled to testify before a Senate Homeland Security subcommittee about the practice of agencies issuing guidance on non-economically significant regulations without publication in the Federal Register. Pope Francis visits White House, with topics likely to include climate change, income inequality and the refugee crisis in Europe. 

THURSDAY, SEP 24
Pope Francis will address Congress, the first pontiff ever to speak before a joint meeting of lawmakers. Fed Chair Janet Yellen lectures at University of Massachusetts-Amherst. 24th World Congress of Savings and Retail Banks Conference, which will draw banking officials from around the world.

FRIDAY, SEP 25
Pope Francis addresses the United Nations General Assembly. Chinese President and Communist party leader Xi Jinping attends summit with President Obama and a state dinner. Xi then visits New York Sept. 26-28, and will address the annual meeting of the United Nations General Assembly.
Please see below for details on these and other events this week.
at the agencies
MONDAY, SEP 21
DEPARTMENT OF THE TREASURY
Financial Stability Oversight Council Executive Session. Topics include updates regarding the council's work on asset management, central counterparties and international market developments.

TUESDAY, SEP 22
COMMODITY FUTURES TRADING COMMISSION
Agricultural Advisory Committee meeting to discuss speculative position limits for agricultural commodities and other agricultural market matters. The agency has yet to act on a rule proposed in 2013 that would impose speculative limits on 28 physical-commodity agricultural, energy and metals contracts. CFTC staff is contemplating how to treat certain trading strategies that market participants say should be considered as bona fide hedges and therefore exempt from position limits.

TUESDAY, SEP 22
SECURITIES AND EXCHANGE COMMISSION
Open meeting to consider new rule proposal and amendments regarding liquidity risk management programs and related disclosures for open end management investment companies. If proposed, it will be the second put forth by the agency on asset managers this year. In May, the agency proposed new disclosure requirements to assist in data collection. Chair Mary Jo White has said the agency will also consider rules affecting the industry on transition plans and stress tests.

WEDNESDAY, SEP 23
SECURITIES AND EXCHANGE COMMISSION
Advisory Committee on Small and Emerging Companies meeting. Agenda includes matters relating to rules and regulations affecting small and emerging companies under the federal securities laws. The Committee will possibly make recommendations on intrastate crowdfunding, "finders" assisting companies in raising capital, and public company disclosure.
  
 
on the hill
TUESDAY, SEP 22
SENATE JUDICIARY
Subcommittee on Antitrust, Competition Policy and Consumer Rights hearing on "Examining Consolidation in the Health Insurance Industry and its Impact on Consumers."

WEDNESDAY, SEP 23
SENATE HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS
Subcommittee on Regulatory Affairs and Federal Management hearing on "Examining the Use of Agency Regulatory Guidance." Michelle Sager, director of strategic issues at the Government Accountability Office; Principal Deputy Assistant Labor Secretary for Policy Mary Beth Maxwell; and Acting Assistant Education Secretary for Planning, Evaluation, and Policy Development Amy McIntosh, testify.

THURSDAY, SEP 24
SENATE (SELECT) INTELLIGENCE
Full committee hearing on intelligence matters. Admiral Michael Rogers, the commander of U.S. Cyber Command and director of the National Security Agency, is scheduled to testify. Earlier this month, Rogers testified before the House Intelligence Committee about cybersecurity threats.
across the globe
SUNDAY, SEP 20 -
TUESDAY, SEP 22
PARIS, FRANCE
Annual ECIIA Conference "Audit in the spotlight" for internal audit professionals and risk managers.

SUNDAY, SEP 27 -
TUESDAY, SEP 29
SAN JUAN, PUERTO RICO
NASAA 2015 Annual Conference. Former U.S. Securities and Exchange Commission Chairman Arthur Levitt is a featured speaker.

SUNDAY, SEP 27 -
TUESDAY, SEP 29
BANFF, ALBERTA, CANADA
Money Laundering in Canada 2015. Topics include trends and typologies of criminal behavior, effective compliance management practices and demonstrating how some reporting entities are successfully strengthening their risk management outcomes.
other events
MONDAY, SEP 21
WASHINGTON DC
International Monetary Fund Managing Director Christine Lagarde delivers welcoming remarks at a discussion prior to the awards ceremony for the "Ethics in Finance - Robin Cosgrove Prize," which recognizes ideas promoting ethics in the finance industry.

MONDAY, SEP 21
PHILADELPHIA, PENNSYLVANIA
IA Watch's 15th Annual Compliance Fall Conference 2015. Keynote speaker is Sharon Binger, regional director of the SEC's Philadelphia regional office.

MONDAY, SEP 21
WASHINGTON DC
The American Enterprise Institute for Public Policy Research (AEI) holds a briefing of the Shadow Financial Regulatory Committee.

MONDAY, SEP 21 -
TUESDAY, SEP 22
ARLINGTON, VIRGINIA
Ginnie Mae holds its third annual Ginnie Mae Summit to address the state of government lending and the future of the housing industry.

TUESDAY, SEP 22
WASHINGTON DC
U.S. Trade Representative Michael Froman and European Trade Commissioner Cecilia Malmstroem will meet to discuss the Transatlantic Trade and Investment Partnership (TTIP) negotiations.

TUESDAY, SEP 22
WASHINGTON DC
Brookings Institution's event on sustainable development, "Implementing the post-2015 development agenda: A conversation with IMF Managing Director Christine Lagarde."

THURSDAY, SEP 24
AMHERST, MASSACHUSETTS
Fed Chair Janet Yellen will deliver the the annual Philip Gamble Memorial Lecture at the University of Massachusetts Amherst.

THURSDAY, SEP 24 - 
FRIDAY, SEP 25
WASHINGTON DC
24th World Congress of Savings and Retail Banks. Amias Gerety, the U.S. Treasury's acting assistant secretary for financial institutions, and Senator Elizabeth Warren are among the scheduled speakers.

FRIDAY, SEP 25 - 
SUNDAY, SEP 27
NEW YORK CITY
The United Nations summit for the adoption of the post-2015 development agenda will be convened as a high-level plenary meeting of the General Assembly. About 190 countries will meet at UN headquarters  to sign off on a sweeping new sustainable development agenda that spans social and economic issues and emphasizes environmental issues. They will meet again in Paris at year's end to hammer out a global climate change agreement.