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In a surprising change, the SEC heeded the cacophony of opposition to swing pricing, but instead threw the industry a curveball by requiring mandatory liquidity fees for institutional...
On July 12, the Securities and Exchange Commission (Commission) adopted amendments to Rule 2a-7 governing money market funds under the Investment Company Act of 1940 (1940 Act).
Federal government’s goal in subsidizing tax-exempt bonds is to encourage investment in long-lived, tangible assets. This episode will discuss three rules to prevent overburdening of tax-exempt bond market: You shall not issue too early, too much; too long.
I. EXECUTIVE SUMMARY - On 15 December 2021, the Securities and Exchange Commission (the SEC) proposed amendments to Rule 2a-7 under the Investment Company Act of 1940, as amended (the...
The SEC proposed amendments to Rule 2a-7 under the Investment Company Act of 1940, as amended the 1940 Act, which governs the structure and operation of money market funds MMFs. Reflect the SEC’s concern over market stresses experienced in response to the COVID-19 Pandemic.