The SEC adopted amendments relating to liquidity disclosures and Form N-Port classification reporting for open-end funds.

As previously covered, the amendments will:

  • require funds to discuss the operation and effectiveness of their liquidity risk management program in their annual or semi-annual shareholder report;
  • allow funds to split their portfolio holdings into more than one classification category in specific circumstances on Form N-PORT; and
  • require funds to "disclose their holdings of cash and cash equivalents not reported elsewhere" on Form N-PORT.

The amendments will become effective 60 days after their publication in the Federal Register.

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