SEC Approves Money Market Fund Reform to Better Protect Investors

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On January 27, 2010, the Securities and Exchange Commission (the “SEC”) adopted rule amendments designed to significantly strengthen the regulatory requirements governing money market funds and better protect investors (the “Money Market Fund Reform”).1 On February 23, 2010, the SEC released the final rule amendments that become effective on May 5, 2010, with compliance dates phased-in during 2010 and 2011.2

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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