Investment Company Institute

Investment Company Institute

Formation	1940
Purpose	To encourage adherence to high ethical standards by all industry participants; advance the interests of funds, their shareholders, directors, and investment advisers; and promote public understanding of mutual funds and other investment companies.
Location	Washington, DC
Chairman	William F. "Ted" Truscott
Vice Chairman	William McNabb
President and CEO	Paul Schott Stevens
Main organ	Board of governors
Website	www.ici.org
Formerly called	National Association of Investment Companies

The Investment Company Institute (ICI) is the national association of U.S. investment companies of mutual funds, exchange-traded funds, closed-end funds and unit investment trusts. ICI encourages adherence to high ethical standards, promotes public financial literacy of funds and investing, and advances the interests of investment funds and their shareholders, directors, and advisers.

Following the stock market crash of 1929 that presaged the Great Depression, Congress passed a series of acts related to securities and financial regulation. One of these, the Investment Company Act of 1940, clearly defined the responsibilities of investment companies. This same year, what would become ICI was established in New York as the National Committee of Investment Companies, an organization to aid in the administration of the act. It became the National Association of Investment Companies (NAIC) in 1941, and then the Investment Company Institute in 1961.

In 2011, ICI expanded internationally with the launch of the London-based ICI Global, which seeks to advance the common interests and promote public understanding of issues related to international funds, managers and investors, including both regulated U.S. and non-U.S. based funds publicly offered to investors worldwide.. In 2013, ICI Global expanded into Asian markets with the opening of an office in Hong Kong.

As an association made up of U.S. investment companies, including mutual funds, closed-end funds, exchange-traded funds (ETFs), and unit investment trusts (UITs), ICI seeks to encourage adherence to high ethical standards among its members to gain public trust and confidence. It advocates for meaningful disclosure for investors from funds and provides investor education. It also provides data and commentary to the SEC to advise its regulatory process, and submits official comment letters and briefs in response to proposals around new financial regulations as well as legal decisions.