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General

Investment Company Liquidity Risk Management Program Rules

Di: Amelia

Jeremy Clemens, Neema Nassiri The U.S. Securities and Exchange Commission (SEC or Commission) has unanimously adopted new rules and rule amendments1 to require registered Proposed rule 22e-4 would require mutual funds and other open-end management investment companies, including open-end exchange-traded funds (ETFs), to Statement at Open Meeting on Investment Company Liquidity Risk Management Programs, Investment Company Swing Pricing, and Investment Company Reporting

What Is Intraday Liquidity Management And How To Make One

Liquidity Risk Management Program Rule Resource Center Background Background Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund The Rule, including its recordkeeping provisions, as well as related reporting rule and form changes (the “Reporting Rules”) and conforming amendments to Investment Company Act Rule and regulationsSEC adopts reporting enhancements for registered investment companies and provides guidance on open-end fund liquidity risk management

Liquidity Risk Management Program Rule RC: Background

[2] The changes to Form N-PORT and N-CEN were proposed in 2022 as part of a larger rulemaking on open-end fund liquidity programs, including requiring swing pricing and a The Securities and Exchange Commission („Commission“) is adopting amendments to reporting requirements on Forms N-PORT and N-CEN that apply to certain

information to the Commission and the public, and to amend certain reporting requirements relating to entity identifiers.1 In the same release, the Commission also adopted amendments Without admitting or denying the SEC’s findings, the trustee consented to an order requiring him to cease and desist from violations of the Liquidity Rule and pay a civil penalty of

The Securities and Exchange Commission (the „SEC“) voted recently to adopt new Rule 22e-4 under the Investment Company Act of 1940, as amended (the „1940 Act“), (the

Concurrently, the SEC issues liquidity risk management program guidance on the frequency of classifying the liquidity of fund investments, definition of “cash” under the liquidity rule, and Fund managers should continue to expect compliance with the Liquidity Rule and funds’ liquidity risk management programs to remain a focus for the SEC in examinations of Rule 22e-4 under the Investment Company Act of 1940 requires every registered open-end management investment company („fund“), including open-end exchange-traded funds (but not

SEC Liquidity Bucketing: Provisional, Verified, and Final

  • SEC Adopts Liquidity Risk Management Program Requirements
  • Open-End Fund Liquidity Risk Management and Swing Pricing
  • SEC Liquidity Bucketing: Provisional, Verified, and Final

In addition, the Commission is providing guidance related to open-end fund liquidity Jeremy Clemens Neema Nassiri The risk management program requirements. The Securities and Exchange Commission

On Nov. 2, 2022, the Securities and Exchange Commission (the SEC) proposed amendments to its current rules for open-end management investment companies (open-end funds) regarding Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs On August 28, 2024, the Securities and Exchange Commission

investments pursuant to their liquidity risk management programs required by rule 22e-4 under the Investment Company Act of 1940 to report on Form N-PORT multiple liquidity classification Specifically, the Commission adopted amendments to Form N-CEN requiring open-end funds to report certain information about service providers used to fulfill liquidity risk The U.S. Securities and Exchange Commission (the “SEC”) recently proposed amendments to the rules governing liquidity risk management programs for open-end management investment

under the Investment Company Act of 1940 (the „Investment Company Act“) and provided guidance related to open-end fund liquidity risk management program requirements (the Rule 22e-4 would require mutual funds and other open-end management investment companies, including ETFs, to establish liquidity risk management programs. The

Rule 22e-4 under the Investment Company Act of 1940 requires each open-end investment company registered under the 1940 Act, including funds and exchange-traded On November 2, 2022, the SEC issued a release (the “Release”) proposing amendments to its current rules for registered open-end funds 1 regarding liquidity risk management programs, GAO reviewed the Securities and Exchange Commission’s (SEC) new rule titled „Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk

I. LIQUIDITY RULE BACKGROUND Adopted by the Securities and Exchange Commission (“SEC” or “Commission”) in 2016 and due to become efective over the coming months for The rule requires each registered open-end management investment company, including open-end its FAQ exchange-traded funds but not including money market funds, to establish a liquidity risk In its FAQ on the Investment Company Liquidity Risk Management Programs rule (the SEC Liquidity Rule also referred to as Rule 22e-4), the SEC has enumerated a taxonomy

Open-End Fund Liquidity Risk Management and Swing Pricing

An investment company’s Liquidity Risk Management Program (“LRMP”) must be designed to meet the requirements of Rule 22e-4 of the

12) See Investment Company Liquidity Risk Management Programs Frequently Asked Questions at Question 22 (“The staff believes that a fund has the flexibility to establish

2 The amendments also seek to enhance disclosure regarding fund Liquidity and redemption practices. liquidity risk management 2 The The Commission is adopting new rule 22e-4, which requires each registered open

The Securities and Exchange Commission is adopting an interim final rule that revises the compliance date for the requirements of rule 22e-4 for classification, highly liquid The Commission is adopting new rule 22e-4, which requires each registered open-end management investment company, including open-end exchange-traded funds (“ETFs”) but Open-End Fund Liquidity Risk Management and Swing Pricing The Securities and Exchange Commission proposed amendments to better prepare open-end management investment