SEC:  Fund Copped To Violating Liquidity Rule With Too Much Stock, Avoiding Sales

(August 30, 2023, 11:21 AM EDT) -- SYRACUSE, N.J. — The Securities and Exchange Commission has filed an opposition to a motion by a mutual fund to dismiss the SEC’s civil complaint that the fund and its principals violated the Liquidity Rule by having more than 15% of its assets in illiquid investments, saying the fund admitted doing so and avoided selling non-exchange securities to protect share value....