The Securities and Exchange Commission has given money market funds a reprieve from following an amendment to money market fund regulations requiring allowing them to approve of the credit rating agencies they must use to determine whether a security is eligible for investment.

Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act required the SEC to review the regulations that reference credit ratings and to modify regulations the Commission has identified to remove any requirement that funds rely on credit ratings. In the agencies place was to come "a standard of creditworthiness the commission determines appropriate."

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access