Home Liquidity Risk Management Program Rule Resource Center
Liquidity Risk Management Program Rule Resource Center
The SEC has adopted a liquidity risk management program rule and related reporting and disclosure requirements for mutual funds (except for money market funds) and open-end ETFs. Generally speaking, funds will have to comply with these new requirements by December 2018. Implementation and ongoing administration of a fund’s liquidity risk management program will require coordination among many functions or groups within, and potentially outside, a fund complex—including portfolio management, trading, risk, legal, compliance, operations, the fund board, and certain third parties (such as sub-advisers, fund administrators, and data providers).
This resource center is designed to assist members in understanding these new requirements, implementing their liquidity risk management programs, and administering them going forward. Contact Matt Thornton (matt.thornton@ici.org or 202-371-5406) for more information or if you need further assistance.
In-Person Meeting of Liquidity Working Group
ICI will host an in-person meeting of its Liquidity Working Group on September 14 in Washington, DC. A dial-in number will be provided for those who can’t attend in person.
SEC Engagement
ICI continues to engage with the SEC on this topic and has submitted the following:
Related Regulatory and ICI Initiatives
The SEC’s adoption of the liquidity rule coincided with its adoption of new enhanced fund reporting requirements for registered funds and optional swing pricing rule amendments for mutual funds. Visit our Investment Company Reporting Modernization Resource Center and Swing Pricing Resource Center for more information on these topics.
Financial Stability Resources
ICI has addressed the subject of fund liquidity extensively in response to inquiries and papers from other regulatory bodies. Visit our Financial Stability Resource Center for material related to liquidity and other topics.
