Search Results for keywords:"Exchange Act Rule 10b-10(a)"

The Securities and Exchange Commission (SEC) is requesting approval from the Office of Management and Budget (OMB) to extend the information collection related to an exemption for certain transactions in money market funds. This exemption, issued in 2015, allows broker-dealers to send transaction information to investors on a monthly basis instead of immediately, in specific cases. As of the end of 2023, around 206 broker-dealers would need to provide these notifications, and the SEC estimates this will only require about 1.8 hours of work per broker-dealer each year. The public is invited to comment on this request by March 31, 2025.

The Securities and Exchange Commission (SEC) is seeking public comments on a proposed extension of a rule that allows broker-dealers to provide monthly transaction information to certain money market fund investors instead of immediate confirmations. This exemption from Exchange Act Rule 10b-10(a) applies if no sales load or redemption fee is charged and if investors are informed of their option to request immediate confirmations but choose not to. The SEC estimates that around 206 broker-dealers would be impacted and encourages feedback on whether this information collection is necessary, how to improve it, and ways to reduce its burden. Comments are due by January 31, 2025.