[Federal Register Volume 59, Number 67 (Thursday, April 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-8277]


[[Page Unknown]]

[Federal Register: April 7, 1994]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 210, 230, 239, 270 and 274

[Release Nos. 33-7052; IC-20184; S7-34-93]
RIN 3235-AE17

 

Revisions to Rules Regulatory Money Market Funds--Extension of 
Comment Period

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule and form amendments; extension of comment period.

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SUMMARY: The Securities and Exchange Commission is extending from April 
6, 1994 to May 6, 1994 the comment period for Release Nos. 33-7038 and 
IC-19959, which proposed amendments to rule 2a-7 under the Investment 
Company Act of 1940 and related rules and forms regarding money market 
funds.

DATES: Comments must be submitted on or before May 6, 1994.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G. 
Katz, Secretary, Securities and Exchange Commission, 450 5th Street, 
NW., Washington, DC 20549. All comment letters should refer to File No. 
S7-34-93. All comments received will be available for public inspection 
and copying in the Commission's Public Reference Room, 450 5th Street, 
NW., Washington, DC 20549.

FOR FURTHER INFORMATION CONTACT:
Martha H. Platt, Senior Attorney, or Kenneth J. Berman, Deputy Office 
Chief, (202) 272-2107, Office of Disclosure and Investment Adviser 
Regulation, Division of Investment Management, 450 Fifth Street, NW., 
Washington, DC 20549.

SUPPLEMENTARY INFORMATION: On December 17, 1993, the Commission issued 
Rel. Nos. 33-7038 and IC-19959 (Dec. 17, 1993) [58 FR 68585 (Dec. 28, 
1993)] (``Release No. 19959''), which proposed amendments to rule 2a-7 
under the Investment Company Act of 1940 and related rules and forms. 
The proposed amendments would tighten the risk-limiting conditions 
imposed on tax exempt money market funds by rule 2a-7 under the 
Investment Company Act of 1940; impose additional disclosure 
requirements on tax exempt funds; and make certain other changes to the 
Commission rules and forms applicable to all money market funds. The 
amendments are designed both to reduce the likelihood that a tax exempt 
fund will not be able to maintain a stable net asset value and to 
increase investor awareness of the risks of investment in a money 
market fund.
    Since Release No. 19959 was published, the Commission has received 
two requests from interested persons for an extension of the comment 
period. In light of the importance of the amendments to money market 
funds and the short-term tax exempt securities markets and the benefits 
to the Commission of receiving carefully considered comments, the 
Commission believes a one month extension of the comment period is 
appropriate.
    The comment period for responding to Release No. 19959 is extended 
to May 6, 1994.


    By the Commission.

    Dated: March 31, 1994.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-8277 Filed 4-6-94; 8:45 am]
BILLING CODE 8010-01-M