SEC Adopts Amendments to the Money Market Fund Rules

January 27, 2010

The SEC adopted amendments to Rule 2a-7 under the Investment Company Act of 1940 (1940 Act) that, among other things, require money market funds to have greater liquidity, limit their riskier investments and to allow funds that do not always maintain a stable $1 share value.  Please see http://xlo3.wpengine.com for a client alert about the new amendments.

Click http://www.sec.gov/rules/final/2010/ic-29132.pdf to access the adopting release.
 
Click http://www.ici.org/pressroom/news/10_news_sec_mmf for the ICI's response to the adopted Rule 2a-7 amendments.


Categories

Mutual Funds, Regulatory