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SIFMA’s Asset Management Group (SIFMA AMG) issued the following statement from Timothy Cameron, managing director and head of SIFMA AMG, after the Securities and Exchange Commission (SEC) announced proposed rules for liquidity risk management programs for asset managers of mutual funds and other open-ended investment funds:
"SIFMA AMG supports the Securities and Exchange Commission’s review of asset manager products and activities and shares the SEC’s goal of promoting resiliency and transparency in the capital markets. These rules have the potential to provide asset managers with important new tools to complement existing robust practices for managing assets in a stressed market environment.
"Several of the SEC’s proposals, including provisions for liquidity risk management policies, minimum levels for highly liquid holdings, swing pricing, and enhanced disclosure and oversight represent potentially significant changes to current business practices. As such, we look forward to reviewing these proposals in detail with members and providing more substantive comments."
