LORNA A. SCHNASE

FYI: In a recent speech, Dalia Blass, the Director of the SEC’s Division of Investment Management, spoke about a number of items of import to funds, including: • The Analytics Office in the Division has developed an internal tool called MAGIC (Monitoring and Analytics GUI for Investment Companies), which allows the Staff to pull together a number of data sets from registrants and other sources — such as performance, flow, holdings and other information – and look at it holistically to analyze questions such as how does a fund’s portfolio compare to its strategy and whether its holdings are aligned […]

FYI: Today the SEC voted to propose modifications to the liquidity classification and related disclosure elements of Rule 22e-4, the rule that requires investment companies to adopt, implement and disclose liquidity risk management programs. The proposal today comes on the heels of the Interim Final Rule adopted by the SEC on February 21, 2018 (discussed in my last blog post), in which the deadline for compliance with the liquidity classification and classification-related elements of the liquidity rule was extended by 6 months. That 6-month delay will give the Commission time to seek comment on today’s proposal and to take any […]