How HR 4492 changes current law

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill establishes new provisions regarding the treatment of money market funds under the Investment Company Act of 1940, including definitions, a method for valuation, restrictions on federal assistance, and disclosure requirements.

• 15 U.S.C. 80a

  SEC. 66. MONEY MARKET FUNDS. ...

  This section adds new regulations for money market funds, defining 'covered Federal assistance' and establishing rules for the election to be a stable value money market fund.

• 15 U.S.C. 80a

  covered Federal assistance may not be provided directly to any money market fund.

  It prohibits the provision of federal assistance directly to money market funds.

• 15 U.S.C. 80a

  No principal underwriter of a redeemable security issued by a money market fund nor any dealer shall offer or sell any such security to any person unless ...

  It requires disclosure of the prohibition against federal bailouts in the prospectus and marketing materials of money market funds.

• 15 U.S.C. 80a

  the company or series will comply with such quality, maturity, diversification, liquidity, and other requirements ...

  It sets requirements for companies that elect to compute share pricing by specific methods.

• 15 U.S.C. 80a

  Exemption from default liquidity fee requirements ...

  It exempts certain money market funds from specific liquidity fee requirements under existing regulations.