WASHINGTON – The Financial Stability Oversight Council (Council) announced
today that it has extended the comment period for proposed recommendations for
money market mutual fund (MMF) reform. At
the request of the Chairman of the Securities and Exchange Commission, the
Council voted to extend the comment period until February 15, 2013, to allow the
public more time to review, consider, and comment on the proposed
recommendations. This also allows
the public to consider the information in the SEC staff report issued on November
Under Section 120 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act, the Council can
issue recommendations to financial regulatory agencies to apply new or
heightened standards and safeguards for a financial activity or practice.
On November 19, 2012, the Council
published in the Federal Register proposed recommendations that the Securities
and Exchange Commission proceed with structural reforms of MMFs. Prior to this extension, public comments on
the proposed recommendations were due by January 18, 2013.
The proposed recommendations,
released in November, are available at the following link:
comments can be submitted on www.regulations.gov.