Securities and Exchange Commission: Money Market Fund Reform
GAO-10-514R: Mar 18, 2010
- Full Report:
GAO reviewed the Securities and Exchange Commission's (SEC) new rule on money market fund reform. GAO found that (1) the rule amends the regulations that govern money market funds. The rule will tighten risk-limiting conditions by, among other things, requiring money market funds to maintain a portion of their portfolios in instruments that can be readily converted to cash, reducing the maximum weighted average maturity of portfolio holdings, and improving the quality of portfolio securities; and (2) SEC complied with applicable requirements in promulgating the rule.