Rachael Schwartz was quoted on how mutual fund advisers are creating committees to oversee the formation of liquidity risk management programs. For large and midsize fund firms with more than $1 billion in assets under management, these programs are required by the Securities and Exchange Commission (SEC) to be operational by December 1, 2018.
Rachael said that most large and midsize firms have formed committees to oversee their liquidity programs, but some smaller firms have designated just one employee to act as an administrator.
She added that the number of members on a committee varies depending on the size of the firm, but that it is typically around three or four members.
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