Effective Date Set for SEC Framework to "Modernize" Fund Valuation Practices

An SEC final rule that will adopt a new regulatory framework for fund valuation practices was published in the Federal Register. The rule amendments will go into effect on March 8, 2021, with a compliance date set for eighteen months following the effective date of the rules.

See prior coverage for further information on how the final rule clarifies a fund's Board of Directors obligations concerning fair value determination.