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The ICI study, Operational Impacts of Proposed Redemption Restrictions on Money Market Funds , suggests that redemption restrictions would likely drive users away from money market funds, drive assets into less-regulated, less-transparent alternatives, and disrupt short-term financing for the economy. View study in full here (links externally to ICI website).

The MSRB issued a regulatory notice announcing that the SEC-approved new MSRB Rule G-45 and electronic Form G-45 authorizes the MSRB to collect more information regarding 529 plans underwritten by brokers, dealers or municipal securities dealers. Rule G-45 requires said brokers and dealers, when acting in the capacity of an underwriter for a 529 plan, to submit information on a semi-annual or, in the case of performance data, annual basis, to the MSRB electronically through new Form G-45. Related amendments to Rules G-8 and G-9 require underwriters obligated to submit information to the MSRB

The SEC's revisions to the EDGAR Filer Manual and related rules were published in the Federal Register. The revisions reflect updates to the EDGAR system. The revisions add new submission form types N-CR and N-CR/A for the Current Report of Money Market Fund Material Events. Additionally, they update submission form types ABS-15G and ABS-15G/A for asset-backed securities reporting based on Rule 15Ga-2. Although the EDGAR system is scheduled to be upgraded to support this new functionality on June 15, 2015, the effective date of the revisions is June 29, 2015. See: 80 FR 36913 .

The SEC Division of Investment Management issued guidance relating to the enhanced mutual fund disclosure amendments that were adopted in 2009. After finding that mutual fund prospectuses were too long and contained too much complex language, in 2009, the SEC amended Form N-1A , the registration form used by mutual funds, and Securities Act Rule 498 ("Summary Prospectuses for Open-End Management Investment Companies"). The amended Rule 498 provided a new option for satisfying prospectus delivery obligations with respect to mutual fund securities. According to the guidance, the amendments

The SEC approved two rulemaking proposals at its open meeting about the modernization of investment company and investment adviser reporting. The proposals pertained to the reporting and disclosure of information. Investment Adviser Act Rule Changes, Including to Form ADV The following aspects of the changes are most relevant to investment advisers: (i) The changes would require an investment adviser to provide additional general information about its business, such as the physical locations where its employees are based, how the firm's CCO is compensated, how the firm uses Web sites and