IGNITES: SEC Liquidity Rule Pushes Shops to Hire Up: Survey
November 14, 2017, By Beagan Wilcox Volz, Ignites (a Financial Times Service)
The SEC’s liquidity risk management rule is spurring numerous asset managers to add staff in time to address necessary changes ahead of the compliance dates. Two thirds of the firms surveyed in late September by the Investment Company Institute plan to make hires “to implement and administer” their liquidity risk management programs. Alaric Compliance Services director Ann Marie Swanson says some firms seek help with determining the appropriate governance structure to use for their liquidity risk management programs. In particular, managers seek somebody to work with the fund board to make sure the directors understand and are comfortable with the terms of the program set up for the funds they oversee, she says.
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