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SEC modifies deadline for open-end fund liquidity classification

Joe Mont | February 23, 2018

The Securities and Exchange Commission has agreed to a six-months extension to the deadline by which open-end funds must comply with certain elements of the Commission's liquidity risk management program rule.

The new compliance date will provide funds with "additional time to complete implementation of the final rule's classification requirement, along with specified other elements that are tied to the classification requirement,” the Commission said. “ Other provisions of the rule that provide important investor protection benefits, including the requirements to adopt a liquidity risk management program and to limit illiquid investments to 15 percent of the fund’s portfolio, will go into effect as originally scheduled.”

Additional information and guidance can be found in an online set of Frequently Asked Questions.

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