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119-hjres-53119th CongressWALLET

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs".

Sponsored By: Representative Clyde, Andrew S. [R-GA-9]

Introduced

Summary

Nullifies the SEC rule on Form N-PORT and Form N-CEN reporting and guidance for open-end fund liquidity risk management. The resolution declares the specified SEC rule shall have no force or effect.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Block SEC mutual fund reporting rule

This joint resolution would void an SEC rule on mutual fund reporting and liquidity guidance (89 Fed. Reg. 73764, Sept. 11, 2024). If enacted, the rule would have no force or effect. Open-end funds and their advisers would no longer have to follow the added N-PORT and N-CEN reporting and liquidity program guidance. Funds could save on reporting work and costs, while investors might see less standardized information about fund liquidity. The change would take effect upon enactment.

Sponsors & CoSponsors

Sponsor

Clyde, Andrew S. [R-GA-9]

GA • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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