1 See Memorandum to Money Market Funds Ad Hoc Committee No. 4-96, Money Market Members - One Per Complex No. 1-96 and SEC Rules Members No. 14-96, dated March 25, 1996 (the
Commission*s release adopting the March Amendments).
August 14, 1996
TO: MONEY MARKET FUNDS AD HOC COMMITTEE No. 10-96
MONEY MARKET MEMBERS - ONE PER COMPLEX No. 6-96
SEC RULES MEMBERS No. 44-96
RE: SEC SUSPENDS OCTOBER 3 COMPLIANCE DATE FOR MONEY MARKET
FUND AMENDMENTS
______________________________________________________________________________
The Securities and Exchange Commission has suspended the October 3, 1996
compliance date for certain of the amendments to Rule 2a-7 under the Investment Company
Act of 1940 that were adopted last March ("March Amendments").1 A copy of the
Commissions release is attached.
The release states that the Commission anticipates that it will be proposing for public
comment technical amendments to certain of the March Amendments, which are not expected
to be adopted before October 3, 1996. The Commission will establish a new compliance date for
the March Amendments upon the adoption of those technical amendments. Money market
funds may comply with any of the amendments or rules adopted in March prior to the new
compliance date.
The Commission has not suspended the compliance dates for the disclosure, advertising
and reporting requirements for money market funds adopted in March (see Section V.C. of the
release adopting the March Amendments).
Amy B.R. Lancellotta
Associate Counsel
Attachment
Note: Not all recipients of this memo will receive an attachment. If you wish to obtain a copy
of the attachment referred to in this memo, please call the Institute’s Information Resource
Center at (202)326-8304, and ask for this memo’s attachment number: 8152.