SEC Delays Compliance Dates for Certain Liquidity Rule Requirements; SEC Staff Issues Responses to Second Set of Liquidity Rule FAQs
March 13, 2018
The U.S. Securities and Exchange Commission (SEC) on February 21, 2018 adopted an interim final rule (Interim Rule) delaying for six months the compliance dates for certain requirements of Rule 22e-4 under the U.S. Investment Company Act of 1940 (1940 Act) (Liquidity Rule) and related reporting and board approval requirements.On the same day, the Staff of the SEC’s Division of Investment Management (Staff) issued responses to a second set of frequently asked questions (FAQs) related to the Liquidity Rule. The Staff’s responses to these FAQs provide guidance as to liquidity classifications, compliance monitoring, and reporting requirements, among other matters related to the Liquidity Rule.
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