SEC Amends Fund Reporting Requirements on Forms N-PORT and N-CEN, Issues Guidance on Liquidity Risk Management Programs

The Securities and Exchange Commission (SEC) recently adopted amendments to the reporting requirements of Forms N-PORT and N-CEN and issued guidance related to registered open-end funds’ liquidity risk management programs (LRMPs). The amendments to Form N-PORT, and related Rule 30b1-9 under the Investment Company Act of 1940 (1940 Act), increase the frequency of information reported to the SEC and make that information public more frequently and more quickly. The Form N-CEN amendments require funds subject to Rule 22e-4 under the 1940 Act (Liquidity Rule) to include more information about the service providers used to fulfill the LRMP requirements.