Technical Revisions to the Rules and Forms Regulating Money Market Funds

OGC-98-20: Published: Dec 18, 1997. Publicly Released: Dec 18, 1997.


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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.

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