A couple of recent additions have been made to the SEC's "Comments on Proposed Rule: Money Market Fund Reform" page, including "Memorandum from the Office of Commissioner Aguilar regarding an October 23, 2009, meeting with representatives of the Investment Company Institute," "Memorandum from the Office of Commissioner Aguilar regarding an August 26, 2009, meeting with representatives of Fidelity Management and Research Company," and "Memorandum from the Office of Commissioner Aguilar regarding a September 23, 2009, meeting with representatives of the U.S. Chamber of Commerce and A2/P2 Issuers." The ICI Meeting summary says, "On October 23, 2009, Commissioner Aguilar, and his counsel, Smeeta Ramarathnam met with Paul Stevens and Karrie McMillan of the ICI as well as with Edward Bernard, the new Chairman of the ICI. The representatives from the ICI discussed the proposals contained in the SEC's Release No. IC-28807 titled, 'Money Market Fund Reform.' In particular, the representatives from the ICI articulated concerns expressed in their September 8, 2009 letter with establishing different liquidity requirements for money market funds depending on whether the funds were classified as institutional or retail and requiring funds to make redemptions in kind for redemptions of a certain size." The Fidelity meeting summary says, "In particular, the Fidelity representatives discussed the proposed weekly liquidity requirements for institutional money market funds and the proposed prohibition on money market fund investment in second tier securities."
