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.
While the official comment period closed on September 17, the Securities and Exchange Commission (SEC) is still 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).
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.