SEC Provides Temporary Additional Flexibility for Registered Funds Affected by the Coronavirus Outbreak to Obtain Short-Term Funding

The SEC provided additional temporary relief to help registered funds manage potential liquidity issues in the current market environment that may be caused by the COVID-19 outbreak. The temporary relief includes an exemptive order with respect to certain borrowing and lending arrangements, and a no-action letter permitting money market funds to sell securities to affiliates under certain circumstances.