Regulatory Alerts2022-12-16 | 2022-24376Added · Updated
Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting
The Securities and Exchange Commission proposes amendments to enhance liquidity risk management programs for open-end funds to better prepare them for stressed market conditions. The proposal mandates swing pricing for most open-end funds to mitigate shareholder dilution and introduces a hard close requirement to improve order processing efficiency. Additionally, the Commission seeks to update Form N-PORT, N-1A, and N-CEN reporting requirements to increase the frequency of portfolio holdings disclosure and improve transparency regarding liquidity classifications.
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