The SEC proposed amendments to certain forms in order to improve the reporting and disclosure of liquidity information by registered open-end investment companies, including a new requirement that funds disclose information about the operation and effectiveness of their liquidity risk management program in their annual reports to shareholders. Concurrently, the SEC has proposed rescinding the current requirement in Form N-PORT under the Investment Company Act of 1940 that funds publicly disclose aggregate liquidity classification information about their portfolios, in light of concerns about the usefulness of that information for investors, as well as other proposed amendments to Form N-PORT requirements. Public comments on the proposals are being accepted until May 18, 2018.
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