later incorporated in executive orders and legislation. Stevens is a member of the Council on Foreign Relations. From 1995 to 1998, he chaired the American Bar Association's Standing Committee on Law and National Security. President of Investment Company Institute Stevens first joined the Investment Company Institute (ICI) in 1993, serving as the organization's general counsel until 1997. He was then general counsel for mutual funds and international enterprise at Charles Schwab & Co. in San Francisco from 1997 to 1999, and a partner in the Financial Services Group at the Washington D.C. law firm of Dechert LLP from 1999 to 2004. On June 1, 2004, Stevens rejoined the ICI as its president, replacing Matthew Fink, who retired after 33 years with the organization. During his tenure, he has led ICI's efforts on a number of issues. He has stressed ICI's role in promoting ethical behavior within the industry, testifying before the U.S. Senate that ICI has "said loudly and clearly from the very beginning, if any member, any participant in this industry has violated the law, they should have the book thrown at them." Since the financial crisis of 2007–08, he has led ICI's work surrounding money market fund reform, as well as the passage and implementation of the 2010 Dodd-Frank Act, which was passed with the intent of making the U.S. financial system more transparent and accountable to avoid another economic crisis. He also is a very vocal proponent of investment funds and defined contribution plans as a means for providing for retirement savings. As a part of this, he is an advocate of the 401(k), although he has stressed that the program isn't perfect and can be improved. He also directed the 2011 launch of ICI Global, an expansion that seeks to advance 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. He has been vocally critical of financial transaction taxes, both in the United States and abroad. Associations and affiliations Stevens serves on the board of directors of ICI Mutual Insurance Co. He is a member of the executive board of the Boy Scouts of America's National Capital Area Council. He is also member of the financial committee of the Catholic Diocese of Arlington, VA. He is a member of the board of directors for the Franciscan Monastery