This week in review, Hugo Pereira shares his insights on trading activity in the loan market in October, Andrew Berlin looks at challenges CLO managers face meeting WAL tests as more and more deals exit their RP, Elliot Ganz highlights arguments from the opening brief in the Private Fund Advisers Rule lawsuit and the implications of a recent ruling from the Fifth Circuit and Tess Virmani provides an overview of an additional liquidity tool for open-end funds — contractual expedited settlement arrangements.