Technical Revisions to the Rules and Forms Regulating Money Market Funds
OGC-98-20: Published: Dec 18, 1997. Publicly Released: Dec 18, 1997.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on revisions to the rules and forms regulating money market funds. GAO noted that: (1) the rule would revise terminology used in rule 2a-7 under the Investment Company Act of 1940 to reflect common market usage and resolve certain interpretative issues; and (2) SEC complied with applicable requirements in promulgating the rule.