Key Notes:
- SEC proposes amending Form N-PORT to eliminate the requirement that funds publicly disclose aggregated liquidity classification (i.e., bucketing) information about their portfolios.
- It recommends that funds disclose liquidity risk management program operations in annual reports rather than in quarterly Form N-PORT submissions.
- It also proposes allowing funds to classify a holding across multiple liquidity buckets rather than forcing a holding into one liquidity category.
- It suggests funds disclose cash and cash equivalents on Form N-PORT to facilitate monitoring compliance with highly liquid investment minimum requirements.
In October 2016, the Securities and Exchange Commission (SEC) adopted the liquidity rule to promote effective liquidity risk management programs and…
