H.R. 1171 · 110th Congress
Money Market Fund Parity Act of 2007
- Stage
- In committee
- Sponsor
- Gregory Meeks
- Introduced
- 2007-02-16
- Latest action
- 2007-04-11 · Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Summary
Money Market Fund Parity Act of 2007 - Directs the Securities and Exchange Commission to revise, according to specified requirements, rules relating to net capital, custody and use of customers' securities, and certain underwritings to provide for: (1) treatment of securities issued by qualified money market funds comparable with the treatment under those rules of other low-risk securities and deposits; and (2) the expanded use of securities issued by qualified money market funds for financing by brokers and dealers.