28 Feb 2025
đŸ“ˆConditional Exemption Order Impacting Broker-Dealers and Money Market Funds
Submission for OMB Review; Comment Request; Extension: Order Granting a Conditional Exemption Under the Securities Exchange Act of 1934 From the Confirmation Requirements of Exchange Act Rule 10b-10(a) for Certain Transactions in Money Market Funds
Summary
The SEC issued a notice regarding a conditional exemption from certain transaction confirmation requirements under the Securities Exchange Act for money market funds. This exemption allows broker-dealers to provide monthly reports to investors instead of immediate confirmations, impacting operational compliance and reporting efficiency.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The regulatory text details updated compliance requirements for broker-dealers concerning the confirmation of transactions in money market funds. This affects operational practices and potential costs for financial firms, specifically regarding customer notifications and adjustments to reporting processes.