On February 23, ICI and IDC held a joint webinar on the SEC’s liquidity risk management program rule and related disclosure requirements for open-end funds—one of last year’s most significant rulemakings. Panelists will provide an overview of the rule’s requirements and related reporting and disclosure obligations, including the new responsibilities imposed on fund boards.
This webinar will provide an overview of the rule’s requirements. ICI will host webinars later this year providing more detailed treatment of certain of the rule’s requirements, to further assist members with implementation.
The webinar provided an overview of the following new requirements under the rule:
- Mandatory liquidity risk management program, including the designation of an administrator
- Assessment, management, and periodic review of liquidity risk
- Liquidity classification of fund portfolio assets
- Highly liquid investment minimum
- Illiquid investment limitation
- Disclosure and reporting requirements
- New board responsibilities
ANNETTE CAPRETTA, Moderator
Deputy Managing Director
Independent Directors Council
Shearman & Sterling LLP
Assistant General Counsel
Investment Company Institute
This webinar was closed to regulators and the media.