SEC Continues Temporary Rule Requiring MM Funds to Report Information to SEC

The SEC, on September 18, adopted temporary Rule 30b1-6T under the Investment Company Act of 1940 to require money market funds to report portfolio holdings and valuation information to the Commission under certain circumstances. The new rule continues substantially similar reporting requirements of the Temporary Guarantee Program for Money Market Funds established by the Department of the Treasury, which expires today. The rule was effective on September 18, 2009, and will expire on September 17, 2010. The Commission also requested comment on the temporary rule, and the comment period will end on Oct. 26, 2009.