SEC Proposes Rules to Remove Credit Ratings from Investment Company Act Rules and Forms | Practical Law

SEC Proposes Rules to Remove Credit Ratings from Investment Company Act Rules and Forms | Practical Law

An update on an SEC proposed rule to remove references to credit ratings from certain rules and forms under the Investment Company Act and Securities Act. The affected rules and forms apply to money market funds, funds that enter into certain repurchase agreements, certain business and industrial development companies and shareholder reports of mutual funds, closed-end funds and certain insurance company separate accounts that offer variable annuities.

SEC Proposes Rules to Remove Credit Ratings from Investment Company Act Rules and Forms

by PLC Corporate & Securities
Published on 03 Mar 2011USA (National/Federal)
An update on an SEC proposed rule to remove references to credit ratings from certain rules and forms under the Investment Company Act and Securities Act. The affected rules and forms apply to money market funds, funds that enter into certain repurchase agreements, certain business and industrial development companies and shareholder reports of mutual funds, closed-end funds and certain insurance company separate accounts that offer variable annuities.