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Upcoming SEC rule changes involving money market funds

Certain provisions of SEC Rule 2a-7 concerning money market funds (MMFs) will go into effect on October 14, 2016. These provisions, among other things, restrict which investors may invest in retail MMFs and, under certain circumstances, require the imposition of special liquidity fees and redemption gates. A floating net asset value will also be introduced for some MMFs. As a result of Rule 2a-7, mutual fund companies are revising their prospectuses and are requiring compliance certifications.

Certain money market fund types will be impacted differently as a result of these new rules. Therefore, we encourage you to read the following articles should you feel you may be impacted by these new rules:

If you hold MMFs and have any questions, please contact your financial advisor or the fund prospectus.

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