Atlanta, Beijing, Brussels, Chicago, Frankfurt, Hong Kong, London
Los Angeles, Milan, New York, Orange County, Palo Alto, Paris
San Diego, San Francisco, Shanghai, Tokyo, Washington DC

Jump to: Page Content, Site Tools, Search Field, Main Navigation, Page Link List, Related Content, or Legal Navigation.

You are seeing this message because your web browser does not support basic web standards. Find out more about why this message is appearing and learn what you can do to make your experience on this site better.

Main Navigation

Site Search

Site Tools

Select Language

  • Print
  • Green Initiatives

Publications

Page Content

SEC Takes Action on Money Market Fund Reform

March 11, 2010
The Investment Management Practice
The Securities and Exchange Commission (“SEC”) has completed its first step toward money market fund reform by adopting new rules and amendments to existing rules, including Rule 2a-7, under the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Money Market Fund Reform Rules”). The SEC’s action is intended to make money market funds more resilient to certain short-term market risks, and provide greater protections for investors in funds that become unable to maintain a stable net asset value per share. The Money Market Fund Reform Rules, among other things, tighten the maturity and credit quality standards for money market funds, and impose new liquidity requirements. The Money Market Fund Reform Rules become effective May 5, 2010. Unless otherwise discussed below or in the Release (defined in fn. 1), the compliance date is May 5, 2010. The SEC has published a marked version of Rule 2a-7 reflecting the amendments on its website.
Click here for a PDF of the full text

Related Practice Areas

Attorney Advertising Copyright © 2010 Paul, Hastings, Janofsky & Walker LLP. All rights reserved.