On July 12, 2023, the SEC issued a release (the "Release") adopting rule and form amendments concerning money market funds under the 1940 Act. The amendments are intended to address problems.
In a surprising change, the SEC heeded the cacophony of opposition to swing pricing, but instead threw the industry a curveball by requiring mandatory liquidity fees for institutional.
SEC Gets Rid of Swing Pricing Proposal and More natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.
In a surprising change, the SEC heeded the cacophony of opposition to swing pricing, but instead threw the industry a curveball by requiring mandatory liquidity fees for institutional prime.