Rule 2A-7 is one of the most complex rules under the Investment Company Act 1940. On January 27, 2010, the US Securities and Exchange Commission adopted amendments to Rule 2a-7 imposing quality, liquidity, and other requirements on any registered investment company that holds itself out to the public as a "money market fund." This is another step in the Obama administration's plan for rating agency reform and an attempt to further stabilize the market.
Please join Brad Keck and Amy Pershkow for our next 30-minute teleconference where they will provide an overview of the amendments and their implications to both money market funds themselves and to issuers of money market securities.
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.