Regulations & Financial Reform
10 Steps Every Treasurer Should Take to Handle New Money Fund Rules
Tom Hunt, CTP, Director of Treasury Services for the Association for Financial Professionals, lists 10 steps every treasurer should take to prepare for the new money market fund rules approved today by the Securities and Exchange Commission.
The Verdict: SEC Approves Money Market Fund Reform
In a 3-2 vote, the Securities and Exchange Commission passed a rule that will force institutional prime money market funds (MMFs) to move from a stable $1 per share net asset value (NAV) to a floating NAV. Additionally, the new rule also allows fund boards to impose two safeguards to stave off runs: liquidity fees of up to 2 percent on redemptions, and temporary suspensions of redemptions, or “gates.”
Long and Winding Road for Money Market Funds Ends Wednesday?
After seven years of debate, one round of rules changes in 2010, followed by three more years arguing over yet another round of regulation, money market funds may get their final changes this Wednesday.
Bitcoin Breakdown: New York Unveils BitLicense Framework
The New York Department of Financial Services (DFS) has released the details of its proposed BitLicense regulatory framework. If passed, New York would become the first state in the U.S. to directly regulate virtual currencies.
Treasurers Weigh Options as Final MMF Vote Looms
The majority of corporate treasurers and CFOs who responded to the 2014 AFP Liquidity Survey, underwritten by RBS Citizens, indicated that their organizations would significantly alter their investment policies if money market funds receive an overhaul. They may need to start making those changes as early as next week.