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Variable Insurance Money Market Funds

Eversheds Sutherland (US) LLP

IRS Notice Offers Relief to Issuers of Variable Insurance Products in Response to Pending Money Market Fund Reforms

On May 5, 2016, the IRS issued Notice 2016-32, 2016-21 I.R.B. 1, which affords relief with respect to the application of the diversification requirements of IRC ยง 817(h) to variable life insurance and annuity contracts...more

Carlton Fields

Money Market Fund Reform Complicates Insurance Product Fund Offerings

Carlton Fields on

In July 2014, the SEC adopted amendments to Rule 2a-7 under the Investment Company Act of 1940 that impose new requirements on money market funds (MMFs). The amendments may have unexpected consequences and impose unique costs...more

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