Federal Register: SEC Adopts Final Rules on Investment Company Swing Pricing
The SEC adopted a final rule to permit mutual funds to use "swing pricing," which allows funds to redeem investors' holdings at prices that are lower than the going market value of the funds' assets under certain circumstances. The final rule was published in the Federal Register.
The final rule is effective on November 19, 2018. Compliance dates differ depending on the form.
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The SEC voted to adopt rule changes under the Investment Company Act that will (i) expand reporting and disclosure by registered investment companies, (ii) impose additional liquidity risk requirements by open-end funds, and (iii) permit mutual funds to use "swing pricing."
