With new regulations going into effect soon, boards of money market funds should be readying themselves for the new fee and gating responsibilities imposed on them by the SEC.
New regulations governing money market mutual funds (Funds) will be phased into effectiveness as soon as July 2015 – just a few weeks from now. Because of their daily management and oversight of Funds’ portfolios, most Fund sponsors have been strategically planning their implementation of the new regulations since they were passed last summer.