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SEC Proposes Liquidity Management Rules For Mutual Funds and ETFs

The Securities and Exchange Commission “SEC” has proposed a comprehensive package of rule reforms for enhancing the effective liquidity risk management by open-end funds, including mutual funds and exchange-traded funds (ETFs).

It is essential to promote stronger liquidity risk management to protect the interests of the millions of Americans who invest in mutual funds and exchange-traded funds. These significant reforms would require funds to better manage their liquidity risks, give them new tools to meet that requirement, and enhance the Commission’s oversight.

Under the proposed reforms, mutual funds and ETFs would be required to implement liquidity risk management programs and enhance disclosure regarding fund liquidity and redemption practices. The proposal is designed to better ensure investors can redeem their shares and receive their assets in a timely manner.

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23 September 2015
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