The Commission is publishing for public comment proposed amendments to rules and forms under the Securities Act of 1933 and the Investment Company Act of 1940 that govern money market funds. Proposed technical amendments to rule 2a-7 under the Investment Company Act of 1940, the rule regulating money market funds, would, among other things, revise terminology used in the rule to reflect common market usage, and codify a number of interpretive positions taken by the staff of the Division of Investment Management. Proposed amendments to the advertising rules applicable to money market funds would clarify the formula used by money market funds to calculate yield and would prevent investors from being confused or misled by presentation of a money market fund's short-term total return in lieu of its yield.
Agency Contact: Marjorie S. Riegel, Senior Counsel, Office of Chief Counsel, at (202) 942-0660, Division of Investment Management, Stop 10-6, 450 Fifth Street, NW., Washington, DC 20549.
This is a proposed regulation. Comments were due on January 24, 1997.