Reports on liquidity risk should be provided on a timely basis to the investment firm licensee's governing body, senior management and other appropriate personnel. The appropriate content and format of reports depends on a licensee's liquidity management practices and the nature, scale and complexity of the licensee's business. Reports to the investment firm licensee's governing body may be less detailed and less frequent than reports to senior management with responsibility for managing liquidity risk.
Adopted: July 2007