The U.S. Chamber of Commerce has organized a comprehensive campaign to ensure that any regulatory action to reform money market fund reforms does not adversely impact businesses' ability to manage cash and raise the capital necessary to drive job creation and economic growth. We are encouraging our members, trade associations, individuals, states, municipalities and local authorities, and others who may be impacted by the changes to join this effort and to TAKE ACTION!
Recent Regulatory Activity: The Financial Stability Oversight Council (FSOC) released draft recommendations to the SEC to advance additional regulations for MMMFs. The suggested reforms, including a floating NAV and redemption holdbacks, put forth by the FSOC would fundamentally change, weaken, or even eliminate the product. These changes would adversely impact businesses across every industry, in addition to states and municipalities, who use MMFs as a short-term cash management tool.
Tell FSOC not to move forward with these recommendations! FSOC is accepting comments until January 18.
Ways To Take Action
#1: Join Our Letter Expressing Concerns with the Recommendations:To show the collective opposition to recommendations that would fundamentally alter the structure and nature of money market funds, likely out of existence, the Chamber is organizing a sign on letter that will be filed with FSOC. Click here to add your organization’s name to the letter.
#2: Send a Letter to the Financial Stability Oversight Council (FSOC): Send a letter today. Click here to send a letter. Click here to download templates to assist in writing your own letter. Please contact Kristin Westmoreland (email@example.com or 202-463-5502) for additional assistance in drafting letters. Remember, comments are due January 18!
Contact Kristin Westmoreland (Kwestmoreland@uschamber.com or 202-463-5502) with any questions.