News & Analysis as of

Reporting Requirements Swing Pricing

Seward & Kissel LLP

SEC Drops Swing Pricing, Adopts Amendments to Form N-PORT and N-CEN and Issues Guidance on Open-End Fund Liquidity Risk Management...

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Who may be interested: Registered Investment Companies; Boards of Directors; Investment Advisers; Compliance Officers; Fund Administrators- Quick Take: In its August 28, 2024, open meeting, the SEC amended fund reporting...more

Dechert LLP

SEC Proposes Mandated Swing Pricing, Hard Close and Fundamental Changes to Liquidity Rule

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The Securities and Exchange Commission on November 2, 2022 proposed significant revisions to its rules governing open-end investment company liquidity risk management and swing pricing. The proposal would also update related...more

Morgan Lewis

SEC Proposes New Amendments to Money Market Fund Rules

Morgan Lewis on

The US Securities and Exchange Commission (SEC) recently proposed amendments (Amendments) to its rules governing money market funds. The Amendments are intended to incorporate lessons learned from the COVID-19-related market...more

Goodwin

SEC Proposes New Round of Money Market Fund Reforms

Goodwin on

On December 15, 2021, the U.S. Securities and Exchange Commission (the “SEC”) voted, by a 3-2 vote, to propose money market fund reforms that would significantly impact the regulatory framework governing money market funds...more

Goodwin

COVID-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

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A variety of steps have been taken to accommodate managers working during the lockdown. As at 29 September 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS - On 20 March 2020, the...more

Goodwin

COVID-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 22 June 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS...more

Goodwin

Covid-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 20 May 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS - The increased flexibility for the...more

Dechert LLP

SEC Adopts New Rules and Rule Amendments to Require Registered Open-End Investment Companies to Establish Liquidity Risk...

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The U.S. Securities and Exchange Commission (SEC or Commission) has unanimously adopted new rules and rule amendments to require registered open-end investment companies (including exchange traded funds and exchange-traded...more

Dechert LLP

SEC Adopts New Rules and Rule Amendments to: (1) Require Liquidity Risk Management Programs for Registered Open-End Investment...

Dechert LLP on

Earlier today, the U.S. Securities and Exchange Commission (SEC) unanimously adopted a new rule and amendments to certain rules and forms that will require registered open-end investment companies, including mutual funds and...more

K&L Gates LLP

U.S. SEC Proposes Liquidity Risk Management Programs, Optional “Swing Pricing,” and Liquidity Reporting for Mutual Funds and...

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On September 22, 2015, the Securities and Exchange Commission (“SEC”) proposed a new rule and amendments to rules and reporting forms under the Investment Company Act of 1940 (the “1940 Act”), designed to standardize...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Proposes Liquidity Management Rules for Open-End and Exchange-Traded Funds

On September 22, 2015, the Securities and Exchange Commission (SEC) voted to propose a new Rule 22e-4 under the Investment Company Act of 1940 (the 1940 Act), as well as amendments to its rules and forms designed to promote...more

Dechert LLP

SEC Proposes Sweeping Changes to Liquidity Risk Management Practices Used by Mutual Funds and ETFs

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The U.S. Securities and Exchange Commission (SEC or Commission) on September 22, 2015 proposed a rule that would require all registered open-end funds and open-end exchange-traded funds (ETFs), other than money market funds...more

Foley & Lardner LLP

A Compilation of Enforcement and Non-Enforcement Actions

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Non-Enforcement Cybersecurity Is At the Top of SEC Examination Concerns In a recent SEC “risk alert” for registered broker-dealers and investment advisers, the SEC’s Office of Compliance Inspections and Examinations (OCIE)...more

Morgan Lewis

SEC Proposes Liquidity Risk Management Rules for Open-End Funds

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In the second step of its five-part plan to enhance registered funds regulations, the SEC has proposed new requirements on portfolio liquidity, risk monitoring, and board oversight. At an open meeting held on September...more

Dechert LLP

SEC Proposes New Liquidity Management Rules for Mutual Funds and ETFs

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Recently, the U.S. Securities and Exchange Commission unanimously approved proposals that would require open-end funds, including mutual funds and exchange-traded funds, to comply with new liquidity management rules. The...more

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