CIFSC Policies and Procedures
On Feb 29, 2012, the CIFSC released a new document outlining the general policies and procedures of the committee. The committee is committed to the ongoing development of this document, and will update it when necessary.
CIFSC Policies and Procedures
Communications
Part 1: Communications Subcommittee
Guidlines for Communications Subcommittee
1. The CIFSC will establish a permanent subcommittee for handling the communication of CIFSC business and news.
2. The committee will be made up of a minimum of 3 representatives from 3 different member firms, one of which will be the committee Chair.
3. The members of the subcommittee will remain in place for a period of 1 year, after which a new subcommittee will be formed.
4. Membership for the subcommittee will be on a volunteer basis, and will be formed in conjunction with the election of the new Chair.
5. Members are not restricted from remaining on the subcommittee for multiple terms.
Part 2: Standards for Communication General Business
The Communications Subcommittee ("subcommittee") will follow these guidelines when communicating regular business:
New Funds
1. The subcommittee will communicate the classification of new funds by posting the decisions on the committee's website within 5 business days of the decision date.
Requests for Classification Reviews
1. The subcommittee will send an email confirmation of receipt to the party that submitted the request within 5 business days of receiving the request. The email confirmation will include an initial review, indicating if the request is valid (i.e. a rationale and supporting evidence have been included).
2. The subcommittee will notify the party that submitted the request of any decisions within 5 business days of the decision date. The notification will include the decision itself, along with an explanation of the decision.
3. The subcommittee will post all reclassification decisions on the committee website within 5 business days of the decision date.
Quarterly Review
1. The subcommittee will communicate the results of the quarterly reviews by sending an email to all fund company contacts whose funds were affected by the results of the quarterly review. This communication will take place within 5 business days of the results being finalized.
2. The subcommittee will post the results of the quarterly reviews on the committee website within 5 business days of the results being finalized.
Annual Review
1. The subcommittee will post the results of the annual reviews on the committee website within 5 business days of the results being finalized.
Part 3: Standards for Communication Other Business
The Communications Subcommittee ("subcommittee") will follow these guidelines when communicating other business:
Feedback Form
1. The subcommittee will respond to all feedback inquiries within 10 business days of receiving the feedback.
Chair Election
1. Results of the election of the committee chair are to be communicated to the media by way of a news release, and within 3 business days of the results being final. The results will also be posted on the committee's website.
Part 4: Media Communications
1. CIFSC news events are only to be disseminated by the Chair, or some other member as designated by the Chair.
2. The subcommittee will assist the Chair in crafting and disseminating CIFSC news releases.