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SEC Proposed Revisions to Rule 2a-7 and their effect on Tax-Exempt VRDNs

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August 15, 2013
Client Alert

On June 5, 2013, the SEC proposed certain amendments to Rule 2a-7, which is the primary rule governing money market mutual funds under the Investment Company Act of 1940. Among other things, the proposed amendments would modify the asset diversification requirements for money market funds.

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