Trade Associations Commend SEC's Proposed Liquidity Risk Management Programs for Mutual Funds

SIFMA Asset Management Group ("SIFMA AMG") and the Investment Company Institute ("ICI") commended the SEC's proposed rule to require liquidity risk management programs for asset managers of mutual funds and other open-ended investment funds. In a public statement, Timothy Cameron, Head and Managing Director of SIFMA AMG, remarked that the SEC proposal has "the potential to provide asset managers with important new tools to complement existing robust practices for managing assets in a stressed market environment."

ICI President and CEO, Paul Schott Stevens, also commended the SEC and its Chair, Mary Jo White, "for their leadership in working to ensure that funds continue to manage liquidity and redemption risks successfully. . . ."