7/5/2010
The SEC has set up a website with Q&As related to its 30b1-7 final rule that it released earlier this year. The site provides compliance guidance on issues ranging from who must file Form N-MFP to when an exemption applies.Tell IAWatch your reaction to this story
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5/31/2010
Newly posted FAQs help fill in the compliance gaps in the SEC's new rule tightening money market fund requirements (IA Watch, Feb. 1, 2010). For instance, a fund is free to set the time when it will determine total, daily liquid and weekly liquid assets as long as it does so at least once each busin ...
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4/12/2010
The Commission is making clear that recent money market reforms that take effect next month (IA Week, Feb. 1, 2010) will not vanquish a key industry phrase defined in a nearly decade-old no-action response known as the Chase Letter.Last week the Commission issued a statement clarifying that the new ...
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2/1/2010
Worries about the integrity of some money market funds at the depth of the financial crisis have driven SEC commissioners to vote 4-1 for a final rule that will apply new requirements on funds and their advisers. These will include the need to anticipate redemption requests, conduct stress tests, ab ...
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9/28/2009
Out with the old, in with the new. As the Treasury Department's insurance program for money market funds was phased out earlier this month, SEC commissioners decided to adopt a temporary rule that requires weekly reports from a fund whose NAV dips below $0.9975.The rule, which would expire next Sept ...
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9/14/2009
More than 70 comments, many from RIAs, came in response to the SEC's proposed reforms to money market funds after last fall's debacle. Some expressed pleasure with the proposal; others pain."These rules will help to ensure that Money Market funds do not operate in a manner that exceeds their fundame ...
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07/08/2009
The SEC's proposed rule reforming money market rules under the Investment Company Act released in July 2009.
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06/05/2009
A proposed rule in the June 5, 2009Federal Register designed to deter money laundering would declare mutual funds to be financial institutions under the Bank Secrecy Act and change the way funds report currency transfers of greater than $10,000. You have until Sept. 3 to comment on the Treasury Dep ...
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5/11/2009
SEC Chairman Mary Schapiro regards it as "essential that the SEC comprehensively re-examine the money market fund regulatory regime" and she has asked staff to present a proposal to the Commission next month that could lead to even "more fundamental changes" for funds, including the possibility of a ...
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4/20/2009
Reforming money market fund regulations sits high on the list of accomplishments sought this year by the SEC's Division of Investment Management and this could include increasing the current $1 net-asset value for funds to a $10 NAV or even "a floating NAV," according to division Director Andrew Don ...
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