Compliance Reporter writes "SEC examiners eye money market follow up." It explains, "Securities and Exchange Commission examiners plan to check on the impact of recent money market fund reforms, now that the compliance deadline has passed ... according to `​Sarah ten Siethoff ... at the recent SEC Speaks conference in Washington, D.​C." She commented, "As we go forward, this is an area where we are moving into monitoring mode, just making sure as the industry transitions to this new equilibrium that everything continues to work smoothly.... From our perspective this showed the resiliency to the markets that can happen when you have a good, long period to plan for this. It was an orderly transition, there were no hiccups or disasters in the market despite moving an incredible amount of money over that period." The publication adds, "The Office of Compliance Inspections and Examinations specifically cited money market funds as a target for 2017 in laying out their exam priorities, writing that they "will examine money market funds for compliance with these rule amendments, which became effective in October 2016. Examinations will likely include assessments of the boards' oversight of the funds' compliance with these new amendments as well as review of compliance policies and procedures relating to stress testing and funds' periodic reporting of information to the Commission." According to the publication, ten Siethoff also said, "At the end of all this we do have a different looking money market fund industry with different requirements.... We have floating net asset, institutional prime money market funds, we have retail prime money market funds that are stable value and have the ability to use liquidity fees and redemption dates, and we have a much more sizable population of government money market funds."

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