Summary

Blocks and nullifies an SEC rule that would have changed reporting by open‑end funds and issued guidance on liquidity risk management. The rule published at 89 Fed. Reg. 73764 (Sept. 11, 2024) will have no force or effect if this resolution becomes law. This stops the new Form N‑PORT / Form N‑CEN reporting requirements and the accompanying liquidity‑management guidance from taking effect and prevents the SEC from enforcing that specific rule.

• Congress disapproves and nullifies an SEC rule on Form N‑PORT, Form N‑CEN reporting and liquidity guidance published Sept. 11, 2024.
• The resolution makes the specified SEC rule have no force or effect, preventing enforcement of that rule text.
• Open‑end funds and their managers are the primary parties affected because the rule targets fund reporting and liquidity‑risk guidance.
• The SEC could still pursue similar requirements later via a new rulemaking, but the specific published rule is blocked.
• Investor transparency and regulatory reporting changes proposed in the nullified rule would not take effect if the resolution is enacted.
• The action uses the Congressional Review Act mechanism to overturn a federal agency rule.
• Market and compliance uncertainty may persist until the SEC clarifies next steps or issues alternative guidance.
• The resolution does not itself create new reporting requirements or replace existing rules — it removes the specified rule.