SEC on guard in adopting money market fund reforms
By 
Kyle Brasseur2023-07-13T14:23:00
The Securities and Exchange Commission (SEC) on Wednesday voted to approve rule changes affecting money market funds that the agency hopes fare better than previous efforts in the space.
The final rule, first proposed in December 2021, is aimed at improving the transparency and resiliency of money market funds, particularly in times of economic stress. The SEC cited the Covid-19 pandemic as a test to the market’s resiliency that exposed concerns the agency sought to address via rulemaking.
The new rule, as highlighted in an SEC fact sheet:
Related articles
-
News Brief
SEC fines Cantor Fitzgerald $1.4M over large trader filing lapses
Financial services firm Cantor Fitzgerald agreed to pay a $1.4 million penalty as part of a settlement with the Securities and Exchange Commission addressing alleged reporting failures.
-
PremiumSurvey: Investment adviser compliance ramps up testing on advertising, marketing
The most popular mock exams conducted by compliance professionals at investment adviser firms this year have been on the Securities and Exchange Commission’s advertising/marketing rule, according to a new poll.
-
PremiumSEC passes new disclosure rules for hedge, private fund advisers
The Securities and Exchange Commission passed new amendments requiring advisers to hedge and private funds to disclose events that could indicate systemic risk or investor harm, a move the regulator said will improve transparency within $20 trillion of market activity.
More from Regulatory Policy
-
News BriefAtkins says SEC to embrace innovation, criticizes regulatory uncertainty around tokenization
SEC Chair Paul Atkins pointed to the growth of tokenized shares as a key development reshaping private markets, suggesting the agency is preparing to update its rules to keep pace with new forms of digital asset trading and settlement.
-
News BriefEuropean Commission unveils a simpler, more competitive EU Single Market, but businesses remain skeptical
The EU’s new strategy aims to boost SME growth and cut market barriers, but businesses doubt reforms will happen, and consumer groups fear weaker data protections.
-
News BriefFHFA chief orders Fannie and Freddie to consider crypto assets in mortgage assessments
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.