Comments on References to Ratings of Nationally Recognized Statistical Rating Organizations continue to arrive, almost all of them vehemently opposed to removing mandated NRSRO ratings. Friday, letters were posted by William L. Armstrong, Chairman of the Board, Denver-​based Board of Trustees of the Oppenheimer Funds, Scott C. Goebel, Senior Vice President and General Counsel, Fidelity Management and Research Company, and Robert W. Uek, Chair, Governing Council, Independent Directors Council. Fidelity'​s comment says, "Fidelity agrees that investment advisers to money market funds should not place undue reliance on credit ratings -- but Rule 2a-​7 in its current form already prohibits such conduct. Under Rule 2a-​7, money market funds must limit purchases to securities that have eligible ratings (​or are of comparable quality) from the Requisite NRSROs (​as defined in Rule 2a-​7) and are determined by the fund'​s board, or its delegate, to represent minimal credit risk."

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