New Proposals Threatening Money Market Funds
From now until mid-September, the Securities and Exchange Commission (SEC) is accepting comments on its proposal to force prime and tax-exempt institutional money market funds to abandon the stable $1.00 net asset value (NAV).
This proposal is a bad idea. Floating share prices for these funds will destroy their simplicity and convenience, thus stripping away investor benefits. And as investors exit money market funds, the key role these funds play for businesses, governments, and nonprofits throughout the economy will be undercut.
Now that the SEC has put an actual rulemaking proposal on the table, it’s more important than ever that you speak up again.
To make your voice heard, please click on the category below that best describes your function/interest.
Your comment will be submitted to Elizabeth M. Murphy, Secretary, Securities and Exchange
Commission, and your representatives in Congress.