Search Results for keywords:"Rule 22e-3"

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Search Results: keywords:"Rule 22e-3"

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  • 2025-03338 — Submission for OMB Review; Comment Request; Extension: Rule 22e-3
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    Type:Notice
    Citation:90 FR 11084
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) is requesting an extension of approval from the Office of Management and Budget (OMB) for a rule relating to money market funds. This rule, called Rule 22e-3, permits these funds to suspend redemptions temporarily to allow for an orderly liquidation. According to the SEC, the process of notifying them about such suspensions has a minimal time requirement, estimated at one hour annually at a cost of $511. Public comments on this request are encouraged and should be submitted by April 3, 2025.

    Simple Explanation

    The SEC is asking for permission to keep letting certain money funds take a short break from giving people their money back if it helps them close down smoothly, and they want to know what people think about this by April 3, 2025.

  • 2024-29579 — Proposed Collection; Comment Request; Extension: Rule 22e-3
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    Type:Notice
    Citation:89 FR 101679
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) is seeking to extend its current rules on collecting information under the Paperwork Reduction Act of 1995. Rule 22e-3 allows money market funds to suspend redemptions temporarily if it helps with an orderly fund liquidation, but they must notify the SEC of such suspensions. The SEC estimates that compliance with this rule will involve minimal effort, requiring about an hour of a lawyer's time each year. The public is invited to comment on the necessity and burden of this information collection by February 14, 2025.

    Simple Explanation

    The SEC wants to keep a rule that lets certain funds take a break from letting people take their money out if it helps the fund close down smoothly, but they have to tell the SEC first. They think it won't take much time or money to follow this rule, and they want to know if others think it's a good idea by February 14, 2025.