The SEC has adopted the final rule requiring open-end investment companies to establish liquidity risk management programs.

Featuring a breakdown of the rule’s requirements and a summary of key changes from the proposed rule, this alert provides important information funds and their boards and investment advisers need to know about the final rule, including:‎

  • Basic Requirements of Liquidity Risk Management Programs
  • What Funds Are Subject to the New Rule
  • SEC Guidance on the Rule’s Requirements
  • Board Responsibilities
  • Practice Points and Observations

The new liquidity risk management rule is arguably the most significant regulation to be adopted by the SEC since the Rule 38a-1 compliance program rule—virtually all types of ‎funds and their operations will be affected in some way. We hope you will find this outline useful, but if you have any questions or concerns, do not hesitate to contact the authors or your usual contact within our Investment Management Group. Please click on the button below to view the full alert.

Download a PDF of the alert