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Earlier this week, GFOA and the National Association of State Treasurers (NAST), submitted comments in response to the Securities and Exchange Commission’s (SEC) request for comments on the Potential Money Market Fund (MMF) Reform Measures in President’s Working Group Report.
In summary, the comments urge the Commission to consider the implications of any reform to state and local governments as investors who use MMFs for cash management and as issuers who rely on MMFs to meet borrowing needs.
GFOA’s Federal Liaison Center will continue to monitor this proposed reform measure.