Overview of SEC's Recent Money Market Fund Reforms

November 19, 2014

The SEC’s sweeping amendments to the rules governing money market funds include new provisions relating to the imposition of liquidity fees and redemption gates, as well as a floating NAV requirement for certain money market funds. The authors discuss these provisions in detail and then turn to the new disclosures, enhanced diversification, more stringent stress testing, and the clarifying rule changes. They close with a discussion of the likely impact of the amendments on the money market fund industry.

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