SEC Adopts Amendments to Money Market Fund RulesWashington, DC, December 4, 1997 - The Securities and Exchange Commission has adopted several amendments to the advertising rules applicable to money market funds. Among other things, these amendments clarify the formula used by money funds to calculate yield. In addition, the Commission has adopted technical amendments to Rule 2a-7 under the Investment Company Act of 1940, the rule regulating money market funds. The amendments, among other things, revise terminology used in the rule to reflect common market usage and resolve certain interpretive issues under the rule, relating primarily to the amendments to the rule that were adopted in March 1996.
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