On 5 March 2021, the International Organization of Securities Commissions (IOSCO) launched a thematic review of the 2018 Recommendations for Liquidity Risk Management for Collective Investment Schemes. The thematic review aims to assess the extent to which the Recommendations have been implemented through IOSCO member regulatory frameworks. It also aims to gather information about how responsible entities – to whom the recommendations are directed – have implemented them in practice. The responsible entity is the entity or entities responsible for the overall operation of the collective investment scheme and in particular its compliance with the legal/regulatory framework in the respective jurisdiction. The thematic review is expected for Autumn 2022.