United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2009_register executive 2009-07-08 article Part II Proposed Rules D09002ee1c8059ec6 D09002ee1c8059fdd United States Securities and Exchange Commission originator org United States Government Agency or Subagency The Securities and Exchange Commission ("Commission" or "SEC") is proposing amendments to certain rules that govern money market funds under the Investment Company Act. The amendments would: 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 weighted average maturity of portfolio holdings, and limiting funds to investing in the highest quality 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" (i.e., re-priced its securities below $1.00 per share) to suspend redemptions to allow for the orderly liquidation of fund assets. In addition, the Commission is seeking comment on other potential changes in our regulation of money market funds, including whether money market funds should, like other types of mutual funds, effect shareholder transactions at the market-based net asset value, i.e., whether they should have "floating" rather than stabilized net asset values. The proposed amendments are designed to make money market funds more resilient to certain short-term market risks, and to provide greater protections for investors in a money market fund that is unable to maintain a stable net asset value per share. 74 FR 32688 https://www.govinfo.gov/app/details/FR-2009-07-08/E9-15906 E9-15906 FR08JY09-36 RIN 3235-AK33 8010-01-P Release No. IC-28807 File No. S7-11-09 https://www.govinfo.gov/app/details/FR-2009-07-08/E9-15906 https://www.govinfo.gov/content/pkg/FR-2009-07-08/html/E9-15906.htm https://www.govinfo.gov/content/pkg/FR-2009-07-08/pdf/E9-15906.pdf Investment Companies Reporting and Recordkeeping Requirements Securities 54 p. 32688 32741 74 FR 32688 Title 17 Part 270 17 CFR Part 270 Title 17 Part 274 17 CFR Part 274 RIN 3235-AK33 Money Market Fund Reform; Federal Register Vol. 74, Issue PRORULE E9-15906 II SECURITIES AND EXCHANGE COMMISSION 2009-09-08 Release No. IC-28807 File No. S7-11-09 8010-01-P E9-15906 Proposed rule.

The Securities and Exchange Commission ("Commission" or "SEC") is proposing amendments to certain rules that govern money market funds under the Investment Company Act. The amendments would: 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 weighted average maturity of portfolio holdings, and limiting funds to investing in the highest quality 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" (i.e., re-priced its securities below $1.00 per share) to suspend redemptions to allow for the orderly liquidation of fund assets. In addition, the Commission is seeking comment on other potential changes in our regulation of money market funds, including whether money market funds should, like other types of mutual funds, effect shareholder transactions at the market-based net asset value, i.e., whether they should have "floating" rather than stabilized net asset values. The proposed amendments are designed to make money market funds more resilient to certain short-term market risks, and to provide greater protections for investors in a money market fund that is unable to maintain a stable net asset value per share.

Comments should be received on or before September 8, 2009. Office of Regulatory Policy, at (202) 551-6792, Division of Investment Management, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-8549. 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Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2009-07-08 P0b002ee180025626 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:FR08JY09 https://www.govinfo.gov/app/details/FR-2009-07-08 https://www.govinfo.gov/content/pkg/FR-2009-07-08/pdf/FR-2009-07-08.pdf https://www.govinfo.gov/content/pkg/FR-2009-07-08/xml/FR-2009-07-08.xml fdlp 32389 32784 DGPO 2009-07-08 2024-06-04 FR-2009-07-08 machine generated eng FR FR-2009-07-08 74 129