The Securities and Exchange Commission (SEC) has proposed rule amendments
relating to liquidity risk management, swing pricing and hard close. The proposal is
titled “Open-End Fund Liquidity Risk Management Programs and Swing Pricing;
Form N-PORT Reporting.“ This Working Group has been established to discuss the
significant operational and financial implications that the hard close component of
the proposal would have on Committee members issuing registered and
unregistered variable insurance products or recordkeeping retirement plans and to
develop CAI comments on the proposal.