The ABA staff has developed a summary and analysis of the Securities and Exchange Commission’s money market mutual fund proposal issued in June to address the risks of runs by institutional investors.
The proposal offers two alternatives: a floating net asset value for institutional prime MMMFs or liquidity fees and redemption gates for prime MMMFs, or some combination of the two. Comments are due on the SEC’s proposal by September 17.
Read the ABA staff summary (members only).
Read the proposal.