In her letter to the Forum, Chairman Schapiro affirms the "critical role in the oversight of money market funds" that independent directors play. She notes that "[g]iven the overall importance of independent directors to the regulatory framework for mutual funds," she looks forward to hearing the thoughts of fund directors about any proposed regulatory changes in this area.
The Forum will continue to monitor developments in this area and will provide comments and other input to the Commission where appropriate on behalf of fund independent directors.
Chairman Schapiro's response to the Forum's letter is available at: http://www.mfdf.com/site/pages/documents/SchapiroLetter6-3-2009_000.pdf
The Forum's May 22, 2009 letter to the Commission is available at: http://www.mfdf.com/site/pages/documents/MMFreform.pdf
- "Forum Comments on Potential Money Market Reforms," June 1, 2009
- "Chairman Schapiro's First Address to the Fund Industry," May 4, 2009
- "Donohue Outlines IM Regulatory Priorities," March 24, 2009