SEC Votes to Modify Compliance Date for Open-End Fund Liquidity Classification
U.S. Securities and Exchange Commission press release February 21, 2018 ---------- The Securities and Exchange Commission voted to extend by six months the deadline by which open-end funds must comply with certain elements of the Commission's liquidity risk management program rule. The new compliance date will provide funds additional time to complete implementation of the final rule's classification requirement, along with specified other elements that are tied to the classification requirement. Other provisions of the rule that provide important investor protection benefits, including the requirements to adopt a liquidity risk management program and to limit illiquid investments to 15 percent of the fund’s portfolio, will go into effect as originally scheduled. To learn more click on the picture below to read the release.