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Thomson Reuters Session - SEC Approves New Rules to Address

Updated about 6 days ago.

On September 9, 2014, Pepper Hamilton attorneys Gregory J. Nowak and John P. Falco spoke on a webinar for West LegalEdcenter, part of Thomson Reuters. This podcast is a recording of this webinar. On July 23 the Securities and Exchange Commission (SEC) adopted amendments to the rules that govern money market mutual funds. The amendments make structural and operational reforms to address risks of investor runs in money market funds, while preserving the benefits of the funds. The rules build upon the reforms adopted by the Commission in March 2010 that were designed to reduce the interest rate, credit and liquidity risks of money market fund portfolios. When the Commission adopted the 2010 amendments, it recognized that the 2008 financial crisis raised questions of whether more fundamental changes to money market funds might be warranted. The new rules require a floating net asset value (NAV) for institutional prime money market funds, which allows the daily share prices of these funds to fluctuate along with changes in the market-based value of fund assets and provide non-government money market fund boards new tools – liquidity fees and redemption gates – to address runs. This engaging webcast will delve into: • understanding the new regulations and what this means for fund managers • how and why the SEC adopted • analysis and prospectus on the possible impact in the near term and long term. PDF file of the PowerPoint slides from this webinar. (Running Time: 1:00:33)