New York partner Stacy Louizos was quoted in Ignites in an article titled, “Shops Take First Steps on Long Road to Liquidity-Rule Compliance.” The article discussed how asset managers are taking steps to comply with the SEC’s liquidity rule and how firms vary in their current state of preparations.
Managers are also assessing who should be involved in the compliance process. The liquidity rule requires a high level of cross-functional coordination. The work is led by a mix of people from fund administration and accounting, portfolio management, risk management, compliance and legal.
Stacy commented on how fund boards play a role in liquidity-rule compliance. “They are responsible for general oversight of the liquidity risk management programs. At this stage, many directors are asking fund company executives for more information about the implications of the rule for the firm’s products and processes and want to know where companies stand in the process of complying with it,” said Stacy.
Read “Shops Take First Steps on Long Road to Liquidity-Rule Compliance.” (Log-in required)