A press release sent out Friday afternoon says, "The Securities and Exchange Commission announced today that it will host a roundtable discussion in May on money market funds and systemic risk. The roundtable will include participants from the Financial Stability Oversight Council (FSOC). The roundtable will take place on May 10, 2011, and will provide a forum for various stakeholders in money market funds to exchange views on the potential effectiveness of certain options in mitigating systemic risks associated with money market funds. These will include, but are not limited to, options raised in the President's Working Group report on possible money market fund reforms that was issued in October 2010 (http://www.treasury.gov/press-center/press-releases/Documents/10.21%20PWG%20Report%20Final.pdf).
The statement continues, "Roundtable panelists are expected to include sponsors of money market funds, short-term debt issuers, investors, and the academic community. A list of participants will be published closer to the date of the roundtable. The roundtable discussion will begin at 2:00 p.m. The roundtable will be webcast on the Commission's website at www.sec.gov and will be archived for later viewing. Seating for the public will not be available."
It adds, "Members of the public who wish to provide their views on the matters to be considered at the roundtable discussion may submit comments to the comment file for the President's Working Group Report on Money Market Fund Reform, as noted below. Comments to the Commission may be submitted by any of the following methods: Electronic Comments - Use the Commission's Internet comment form (http://www.sec.gov/rules/proposed.shtml); or, Send an e-mail to rule-comments@sec.gov. (Please include File Number 4-619 on the subject line); or, Use the Federal eRulemaking portal (http://www.regulations.gov). Follow the instructions for submitting comments.... Send paper comments in triplicate to Elizabeth Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, D.C. 20549-1090."
The release notes, "All submissions should refer to File Number 4-619. This file number should be included on the subject line if e-mail is used. To help process and review your submissions more efficiently, please use only one method. The Commission will post all comments on the Commission's website at www.sec.gov. Please note that all comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly."
With this announcement, May and June are shaping up to be a busy time for money fund professionals and regulators following several months of calm. Among the other events scheduled: on May 11 (afternoon), Crane Data's Peter Crane and Federated Investors' Debbie Cunningham will speak on money funds at a Greater Washington Association of Financial Professionals' meeting; on May 16, ICI will host a "Money Market Funds Summit" at the St. Regis Hotel in Washington (details pending); and, on June 22-24, Crane Data will host its 3rd annual Money Fund Symposium, the largest gathering of money market fund professionals of the year, at the Philadelphia Marriott (Downtown).
