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The 2018 Liquidity Recommendations are addressed to the responsible entities who manage liquidity risk in all phases of the lifecycle of a Collective Investment Scheme (CIS). It sets out 17 recommendations dealing with areas related to the CIS Design Process, Liquidity Risk Management Practices (assets and liabilities), Liquidity Risk Redemption, Day-to-day Liquidity Management, and Contingency Planning.

IOSCO expects that securities regulators will actively promote the implementation by responsible entities of the 2018 Liquidity Recommendations. However, as noted in the 2013 Liquidity Report, when the recommendations are being implemented, they have to be transposed within the context of the specific legal structures prevailing in each jurisdiction. Hence, the implementation of the recommendations may vary from jurisdiction-to jurisdiction, depending on local conditions and circumstances.