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MMF Draft Rule Internally Released at SEC

News outlets are reporting that the SEC staff has internally circulated a 500-page draft rule that would reform money market fund regulations.  Details on the draft rule have not yet been released, but indications are that the new rules may target prime funds, requiring them to float their NAV.  Commissioners typically have 30 days to review draft proposals, but this time period is often extended.

 

 
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