Money market funds: SEC proposes new rules

June 2013

Overview

The SEC voted unanimously to propose new rules intended to reform money market funds. The SEC proposed two alternatives, in addition to additional disclosures, regulatory reporting, diversification requirements and stress testing. SEC Commissioners indicated that the proposal is designed to address liquidity concerns identified in the wake of the 2008 financial crisis. Several Commissioners also noted that the SEC was the appropriate oversight body for money market funds, in light of the FSOC’s focus on this issue.

The SEC is requesting comments on each proposal separately, as well as whether both proposals should be enacted together. The comment period is 90 days.

Contact us

Dan Ryan
Financial Services Advisory Leader
Tel: +1 (646) 471 8488
Email

Alison Gilmore
US Asset and Wealth Management Marketing Leader
Tel: +1 (646) 471 0588
Email

Follow