The SEC wants to know how fund firms are valuing and assessing their holdings within money market funds. The Wall Street Journal's Diya Gullapalli reported that the commission sent examination letters to several fund shops in recent weeks, and among those thought to be recipients are Fidelity and Federated Investors (the fund firms didn't confirm that they got such letters). The SEC wants to have a better understanding of how fund shops are dealing with the turmoil in the credit markets. The examination, which centers around asset holdings, valuation and board oversight for the funds, could help inform the SEC if changes to money-market rules need to be made, according to the report.  

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