MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 22, 2009 SEC Extends Money Fund Disclosure Regs The Treasury's money fund guarantee program may be over, but increased SEC scrutiny of money funds is not. The WSJ Fund Track reports on a new interim rule that requires money market mutual funds to report on their portfolio and its valuation in cases where the fund's NAV dips below $0.9975. When the NAV hits that level, fund officials must email the SEC with a list of its portfolio holdings and their value no later than the next business day. Those reports are intentionally similar to reports required under the guarantee program that expired on Friday. One difference is that the guarantee program required weekly reports rather than immediate disclosure when triggered. The SEC essentially extended the disclosure through a temporary rule that will expire on Sept. 17, 2010. According to the WSJ, the SEC staff said that "The commission has found these reports very useful." Printed from: MFWire.com/story.asp?s=22681 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |