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SEC Requests Comment on Possible Money Market Fund Reforms

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  • Baker, John
    The Securities and Exchange Commission has requested public comment on the options for reforming money market funds that were discussed in last month s report
    Message 1 of 1 , Nov 3, 2010
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      The Securities and Exchange Commission has requested public comment on the options for reforming money market funds that were discussed in last month's report from the President's Working Group on Financial Markets. Release No. IC-29497 (Nov. 3, 2010). The SEC and the Financial Stability Oversight Council will use the comments to consider the options discussed in the report to identify those most likely to materially reduce money market funds' susceptibility to runs and to pursue their implementation. Commenters should address the effectiveness of the options in mitigating systemic risks associated with money market funds, as well as their potential impact on money market fund investors, fund managers, issuers of short-term debt, and other stakeholders. The SEC is also interested in comments on other issues commenters believe are relevant to further money market fund reform, including other approaches for lessening systemic risk not identified in the report. Comments should be received on or before January 10, 2011.

      The SEC release, with the President's Working Group report attached, is available online at

      http://www.sec.gov/rules/other/2010/ic-29497.pdf

      For my prior post on the President's Working Group report, see

      http://groups.yahoo.com/group/FundLaw/message/1302



      John M. Baker <JMB@...>
      Stradley Ronon Stevens & Young, LLP http://www.stradley.com
      1250 Connecticut Avenue, NW, Suite 500
      Washington, DC 20036
      202.419.8413
      202.822.0140 fax
      FundLaw Listowner http://groups.yahoo.com/group/fundlaw
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