SEC to Discuss Revision of Compliance Date for Liquidity Rule at Meeting

According to a Sunshine Act Notice, the SEC will hold a meeting on February 21, 2018 to discuss various items, including revising the compliance date for certain provisions of the Liquidity Rule. Industry groups have called for a delay of the rule, citing the complexity of the asset-classification requirements and related technological challenges asset managers and vendors are facing. The agenda items for the SEC’s February meeting are:

• whether to approve the issuance of an interpretive release to provide guidance to assist public companies in preparing disclosures about cybersecurity risks and incidents.
• whether to adopt an interim final rule revising the compliance date for certain provisions of rule 22e-4 under the Investment Company Act of 1940 and related reporting and disclosure requirements.
• whether to propose amendments to Form N-PORT and Form N-1A related to disclosures of liquidity risk management for open end management investment companies.