FORVIS: On November 2, 2022, the SEC issued a 444-page proposal that would significantly change liquidity risk management and pricing practices for open-end management investment companies, including:

• Updating the classification of investment liquidity and requiring a minimum of 10% of highly liquid assets
• Requiring the use of swing pricing and implementing a hard close
• Timelier, more frequent (monthly), and more detailed public reporting of fund information
• To learn more download the FORVIS White Paper