IOSCO has published a report on liquidity management tools in collective investment schemes in 26 member jurisdictions, focusing particularly on tools to help deal with exceptional situations.  Points of interest include: (i) many liquidity management tools are available to jurisdictions, some of which are specifically tailored to the features and nature of the funds considered (for example, money market funds, real estate funds, and hedge funds). In particular, most jurisdictions clearly distinguish open-ended schemes from closed-ended ones; (ii) the most common tools are redemptions fees, redemptions gates, redemptions in kind, side pockets, and suspension of redemptions; and (iii) open-ended funds are generally subject to additional regulatory requirements dealing with fund leverage, asset concentration, investor concentration, restrictions on illiquid asset investment and short-term borrowings. IOSCO is working on enhancing collection of data about asset management activity and is considering developing guidance on liquidity risk management beyond its 2013 principles, including on stress testing.