Webinar Archive - SEC Takes Swing at New Money Market Fund Reform
The SEC has proposed another round of amendments to Rule 2a-7 and other rules that govern money market funds under the Investment Company Act of 1940 – the third set of reforms focused on money market funds since the 2008 financial crisis. These proposed amendments come in the wake of significant redemptions experienced by institutional prime and tax-exempt money market funds in March 2020 in connection with the onset of the COVID-19 coronavirus pandemic and the associated stresses in the short-term credit markets.
The proposed reforms include: increasing daily and weekly liquid asset requirements and related reporting requirements; removing required and permissive liquidity fee and redemption gate provisions; mandating swing pricing for institutional prime and institutional tax-exempt money funds; and other amendments relating to potential negative interest rates.
This webinar reviewed the proposed amendments and the possible impact on responsibilities for boards overseeing money market funds
This webinar originally aired on March 10, 2022.
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