From financial reporting to audit priorities, our #ICITAC panel featuring Liz Bayston of @followMFS, Karen Gillogly of @jpmorgan, Nicolina McCarthy of the @SECGov's Division of Investment Management, and Chad Gazzillo of @KPMG are discussing emerging trends and practical considerations for investment companies.

Global tax developments rarely stop at national borders. #ICITAC speakers Ben Kersse of @TRowePrice, Jennifer Crossan of @FranklnTempletn, Suzi Evans of Alpine Edge Consulting, and Quyen Huynh of @KPMG examined the latest international tax developments affecting funds and cross-border investing, along with the implications for compliance, reporting, and operations.

Fund innovation can create new opportunities, but it can also introduce complex tax challenges. #ICITAC panelists Denise DiBella of Natixis Investment Managers, Amy Snyder of @EYnews, Jason Traue of @MorganLewisLaw, and ICI's Mike Horn discussed the tax considerations that can accompany new fund products and investment approaches, including the breaking news from the @IRSnews on 351 exchanges.

At #ICITAC, Chuck Chiesa of Columbia Threadneedle Investments, Declan Byrne of @PwC, Padma Duvvuri of @DFINSolutions, James Lorden of @TRowePrice, and Bill McManus of @BNYWealth discussed the opportunities, challenges, and practical implications of AI in the next era of fund administration.

Duke Kim, @Securitize, points to ICI’s recent tokenization paper as a resource for helping answer some of the industry’s questions around the issue. Read it here: bit.ly/3VgJPDU #ICITAC

“You’ve got multiple sets of books and records that have to be reconciled every day. We’ve built an industry around that. If we can just simplify it on a blockchain, you take away all the friction it enables.” - David Littleton, @fminvestllc #ICITAC

Beyond the buzzwords, tokenization is creating new opportunities and questions for the fund industry. Duke Kim of @Securitize, David Littleton of @fminvestllc, and Linards Strauss of @Deloitte are taking the #ICITAC stage with ICI's Timothy Whiteto discuss the potential impact of tokenization on fund structures, operations, and investor access.

“I feel like the environment is ripe for more development in the digital asset space, but it’s hard to predict what the shape of that will be because the space evolves so quickly and it’s hard to keep up with the latest, greatest thing.” - Ed Baer, @KLGates #ICITAC

What is a novel ETF? Ed Baer, partner at @KLGates reminds us that the @SECgov didn't define it. It involves exposure, securities, asset types, and "the theme is that they're new! To define what’s novel at a moment in time is potentially problematic." #ICITAC

“I think people understand the ETF structure pretty well. I think both the issuers and investors and the regulators should be comfortable with the ’40 Act structure. It’s got a very clear system of regulation, and it’s done well over the years.” - Ed Baer, @KLGates #ICITAC

"Does the investor need to understand how a multi-leg box works, or even how an options overlay is structured? No, they don’t really need to understand all the electric wiring and plumbing behind all of that, but they do need to understand basic climate control. What happens when it gets too hot, what happens when it gets too cool, and what trade offs were made in order to achieve that yield.” - Amrita Nandakumar, Vident Asset Management #ICITAC

Alternative assets continue to reshape the #ETF landscape. Happening now at #ICITAC, Ed Baer, Partner at @KLGates, Amrita Nandakumar, President of Vident Asset Management, and Devasish Majumdar, Managing Director at @GoldmanSachs Asset Management, are joining ICI's Josh Weinberg to discuss the opportunities and practical challenges of bringing alternative assets into ETFs and what it means for the future of product innovation.

“ICI does a great job of facilitating meetings. I would encourage everyone to participate in in-person meetings. When ICI can facilitate bringing in people from Treasury to have the discussions or across any other of the operational type committees that are there, I strongly encourage you to be a part of it.” – Joy Lopez, @Dimensional #ICITAC

On crypto and digital assets, @KPMG_US’s Doug O’Donnell says “I really feel like we’re at a juncture where there’s a lot of opportunity for evolving challenges to disrupt, but people need to take a step back and take a look and understand what’s happening and then try to work through what are these rules going to look like? It’s not really rocket science. It’s really about focusing efforts.” #ICITAC

“I know AI is front of mind for everyone, but there is an aspect to it where you need to think about the data you have, how you’re retaining it, what you’re putting it to use for, and how others are going to see it.” – Doug O’Donnell, @KPMG_US #ICITAC

Doug O'Donnell, Senior Managing Director at @KPMG_US and former @IRSnews Acting Commissioner and Deputy Commissioner, joins Joy Lopez, Head of Investment Tax & VP at Dimensional Fund Advisors, for our first #ICITAC fireside chat, discussing leading the IRS, navigating complex challenges, and lessons learned from a career in tax and public service.

Welcome to Day 1 of the 2026 #ICITAC! Kicking things off is Joy Lopez, Vice President and Head of Investment Tax at @Dimensional!

#ICICRL closed on a high note with a fast-paced Lightning Round featuring industry leaders and live audience participation. Thank you to everyone who joined us in Nashville!