Tell the SEC to Preserve Money Market Mutual Funds
On June 5, the U.S. Securities and Exchange Commission (SEC) voted unanimously to propose additional reforms to money market mutual funds, including a floating net asset value (NAV) for prime institutional funds, liquidity fees and redemption gates, and additional diversification and disclosure measures.
Take the following actions to ensure the SEC hears from the business community.
- Submit a Letter to the SEC: It is important for the SEC to hear from many stakeholders, and we encourage you to submit your own letter to the SEC. Click here for resources.
- Add your Organization’s Name to Our Sign-On Letter: To show collective opposition to the suggested changes, we are encouraging chambers, associations, and companies to sign a joint letter. Click here to add your name.
- Call Your Congressmen and Senators: Ask your elected officials to weigh in with the SEC.
Proposals to fundamentally change money market mutual funds have attracted opposition from a broad and diverse coalition of businesses, states, municipalities, and non-profits. Money market mutual funds work for investors, businesses, and cities. Click here to see who has spoken out.
The Chamber remains skeptical that regulators will be able to effectively address our concerns about floating NAV and remain focused on ensuring that changes to existing regulations strengthen MMMFs while preserving their utility as an important cash management tool and a critical source of short-term funding for businesses, cities, and states.