Overview of the SEC's Money Market Fund Reform Amendments

 
August 14, 2014
Webinar
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The U.S. Securities and Exchange Commission (SEC) recently approved sweeping amendments to Rule 2a-7 and other rules that govern money market funds under the Investment Company Act of 1940 (Amendments). The Amendments begin a new phase in the regulation of money market funds that has loomed over the investment management industry since the 2008 financial crisis. As SEC Chair White stated in her opening remarks during the SEC open meeting at which the Amendments were approved, the Amendments will “fundamentally change the way most money market funds operate.”

This webinar will review the key aspects of the Amendments and the steps that money market funds and their boards and advisers can take in order to comply with the Amendments. In particular, the webinar will focus on:

  • the new liquidity fees and redemption gates and the impact on money market fund boards, advisers and shareholders;
  • the floating net asset value requirement for money market funds that do not qualify as “government” or “retail” money market funds and the issues with meeting the definitions of “government” and “retail” money market funds under the Amendments;
  • the new diversification requirements, enhanced disclosure requirements, strengthened stress testing and increased reporting obligations on both registered money market funds and unregistered liquidity funds that could serve as alternative investments to money market funds; and
  • the various compliance dates for the Amendments.

To read more about the topics to be discussed in this webinar see our Dechert Newsflash SEC Approves Amendments to Rules Governing Money Market Funds.

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