Transcription of Final Rule: Money Market Fund Reform - SEC.gov
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Final Rule: Money Market Fund Reform - SEC.gov
SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 270 and 274 [Release No. IC-29132; File Nos. S7-11-09, S7-20-09] RIN 3235-AK33 Money Market fund Reform AGENCY: Securities and Exchange Commission. ACTION: Final rule. SUMMARY: The Securities and Exchange Commission ( Commission or SEC ) is adopting amendments to certain rules that govern Money Market funds under the Investment Company Act of 1940. The amendments will tighten the risk-limiting conditions of rule 2a-7 by, among other things, requiring funds to maintain a portion of their portfolios in instruments that can be readily converted to cash, reducing the maximum weighted average maturity of portfolio holdings, and improving the quality of portfolio securities; require Money Market funds to report their portfolio holdings monthly to the Commission; and permit a Money Market fund that has broken the buck ( , re-priced its securities below $ per share), or is at imminent risk of breaking the buck, to suspend redemptions to allow for the orderly liquidation of fund assets.
2 551-6792, Division of Investment Management, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-8549. SUPPLEMENTARY INFORMATION: The Commission is adopting amendments to rules 2a-7 [17 CFR 270.2a-7], 17a-9 [17 CFR …
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