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RICHARD CAYNE
By Staff Reporters
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- SEC money market fund reforms: On July 12, 2023 the SEC released new rules intended to decrease the risk of runs on money market funds (MMFs). MMFs must charge liquidity fees if their daily net redemptions exceed 5% of their net assets, or if their boards deem it necessary, and must maintain a liquidity buffer of at least 25% of their total daily assets and at least 50% of their weekly assets. MMFs are also no longer allowed to use “gates” to temporarily suspend redemption!
- CITE: https://www.r2library.com/Resource
Goes into effect: 60 days after the rule is published in the Federal Register.
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Filed under: Funding Basics, iMBA, Inc., Investing, Marcinko Associates, Touring with Marcinko | Tagged: david marcinko, federal register, Marcinko, Marcinko Associates, MMF, MMFs, MMMF, money market funds, richard cayne | Leave a comment »
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