SEC Proposed Rule on Money Market Reform

more+
less-
more+
less-

On June 5, the SEC proposed two alternatives for amending rules that govern money market mutual funds under the ’40 Act. The alternatives would (i) require money market funds to sell and redeem shares based on the current market-based value of the securities in their underlying portfolios (transact at a floating NAV) or (ii) require money market funds to impose a liquidity fee if the fund’s liquidity levels fell below a certain threshold and permit the fund to temporarily suspend redemptions under that scenario. Comments on the proposed rule must be submitted within 90 days of publication in the Federal Register. SEC Release. SEC Proposed Rule.

Written by:

Published In:

SEC

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.

© Orrick - Structured Finance Group | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×