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SEC amends money market fund rule

  • SEC (US Securities and Exchange Commission) Image

Sep 17, 2015

The SEC has issued a final rule, “Removal of Certain References to Credit Ratings and Amendment to the Issuer Diversification Requirement in the Money Market Fund Rule,” which removes credit rating references from its money market fund rule and form.

Under the new requirements, a money market fund “is limited to investing in a security only if the fund determines that the security presents minimal credit risks after analyzing certain prescribed factors.”

The final rule will become effective 30 days after the date of its publication in the Federal Register; entities must comply with the rule by October 14, 2016.

For more information, see the press release and final rule on the SEC’s Web site.

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