On April 21, 2020, the U.S. Securities and Exchange Commission (the “SEC”) voted to propose new Rule 2a-5 (the “Proposed Rule”) under the Investment Company Act of 1940 (the “1940 Act”) that, if adopted, would establish a...more
4/30/2020
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Valuation
The SEC recently adopted amendments to the rules governing MMFs. Most particularly, the amendments (i) require institutional prime and institutional tax-exempt MMFs to use a floating net asset value as opposed to allowing...more