After the Securities and Exchange Commission (SEC) was unable to reach a consensus on a money market fund (MMF) reform proposal in August 2012, the focus shifted to the Financial Stability Oversight Council (FSOC). In November, the FSOC published proposed recommendations for potential MMF reform actions that would be submitted to the SEC for public comment. The proposed recommendations included a range of options, including requiring MMFs implement a floating net asset value or, in the alternative, maintain a stable net asset value, subject to the maintenance of capital buffers and restrictions on redemptions under certain circumstances.

FSOC members have indicated a preference for the SEC to take actions to address the FSOCs concerns on the SECs own initiative. However, following the departure of Chairman Mary Schapiro and the SECs release of a report responding to questions raised by certain SEC Commissioners, it remains to be seen whether a majority of the SEC Commissioners may be prepared to initiate a new MMF reform proposal at the SEC. The webinar will address the following topics:

MMF industry and reform initiatives 2008-2012

The FSOC recommendation process

Issues and implications regarding the FSOC reform alternatives

Prospects for SEC action on MMF reform


Practice Areas:		Banking & Finance Law, Corporate & Securities, Securities & SEC Regulation

Online Media Type:		Audio

Production Date:		01/07/2013 12:30 PM EST

Level:		Intermediate

Category:		Standard

Duration:		1 Hours, 0 Minutes

Online Format:		Live

Course Type:		Public

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Speakers:

•	Robert H. Ledig - Partner - Dechert LLP, Washington D.C.
•	Jack W. Murphy - Partner - Dechert LLP, Washington D.C.
•	Stephen T. Cohen - Associate - Dechert LLP, Washington D.C.


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