Money Market Funds Content

The Internal Revenue Service (IRS) today issued guidance requested by the ICI that will exempt from the wash sale rule any loss incurred by a shareholder in a money market fund with a stable net asset value (NAV). We requested this guidance because liquidity fees imposed by such funds...

We recently submitted the attached letter to the SEC noting that it has issued a wide range of interconnected rule proposals (the "Interconnected Rules") over the last two-and-a-half years but has failed to consider and analyze the Interconnected Rules holistically.

ICI has requested guidance, in the attached letter, from the Treasury Department and Internal Revenue Service (IRS) on two liquidity fee-related tax issues for money market funds (MMFs).

On July 20th, the European Commission (Commission) published a report on the adequacy of the Money Market Fund Regulation (MMFR), which has been in application in the EU since January 2019.

On July 18, the Central Bank of Ireland (CBI) published a discussion paper entitled "An approach to macroprudential policy for investment funds" (Discussion Paper). The CBI is accepting comments until November 15.

ICI has filed comments with the Financial Stability Oversight Council (FSOC or Council) on two proposals: (i) revised guidance on the Council's process for potential designation of a nonbank financial company as a systemically important financial institution (SIFI); and (ii) a new...