Fund Board Views Quotes Investment Management Partner on Board Responsibilities on Liquidity Risk Management Programs

An April 13 article in Fund Board Views advises that fund managers should not delay constructing programs to comply with the SEC’s final liquidity risk management rule, and discusses the obligations boards have in this process. Investment management partner Paulita Pike (Chicago) is quoted in the piece. In the early stages, boards should be looking to get a handle on how the adviser plans to proceed toward compliance. This will entail being briefed on who within the adviser is taking the lead on this, what challenges are likely to be faced, and how often the board will be updated, Ms. Pike states in the piece.