SEC Proposes New Limits On Money Market Funds

Law360, New York (June 24, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has proposed stricter rules on money market mutual funds that would require them to hold a minimum amount of assets that could be readily converted to cash and to make investments in only top-rated securities.

In a 5-0 vote, the SEC decided on Wednesday to propose the rule amendments for money market funds aimed at increasing their resilience to economic stresses and lowering the risks of runs on the funds.

The SEC has asked for the public to comment on...
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