no its just a deadline in regards for corporations to be complaint with federal rules regarding fiduciaries conflict of interest, but indirectly it has consequences where most will not be allowed to self direct their 401k's/PSPs..
There have been some recent examples that speak to this exact scenario. Hedge Fund A has a massive loss in one concentrate position, within minutes the vulture's find HF A's other equity positions (long/short), a squeeze ensues whereby all of the other positions in HF A's portfolio move against him, essentially front running what they believe will trigger covers (sales) in the other positions. This was a public example, now imagine the behind the scenes stuff that is only privy to the desks that monitor many different funds in the exact scenario (especially into EOQ or EOY).
Yep, it's all about degrees of solvency.. Trader A 100k Bank A 1 Billion The above two can trade any fictitious security and Bank A can maneuver price to blow out position of Trader A.