In The News

In Ignites, Asset Management Partner Brian McCabe Discusses SEC Attention to Liquidity Rule Compliance

Practices: Asset Management, Investment Management, Mutual Funds, ETFs & Closed-End Funds, Investment Management Compliance

An Ignites article published on July 1 titled “SEC Examiners On the Hunt for Liquidity Rule Stragglers” reports that SEC examiners are looking at whether firms are complying with the requirements of the liquidity rule that went into effect in June. Insights from asset management partner Brian McCabe are included in the piece.

After verifying that shops have surpassed the basic “compliance markers,” the SEC will probably turn its attention to vendor oversight, Mr. McCabe says in the article. “I think what staff are going to want to know is that these firms haven’t completely turned the keys over to an outside vendor for bucketing and never look over their shoulder” to learn how the service provider classifies securities, and assess the accuracy of its work, he adds.

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