SEC Seeks Comments on Rule 2a-7 Paperwork Extension
Published Date: 8/4/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Estimated Compliance Burden and Costs
The SEC estimates about 284 money market funds are subject to Rule 2a-7. Each fund averages 700 hours per year for recordkeeping and 75 hours per year for third-party disclosure, for a total estimated annual burden of 220,100 hours and an aggregate external cost burden of $51,120,000.
Recordkeeping and Governance Rules for Funds
Money market funds must adopt written procedures and guidelines for stabilizing net asset value, liquidity-fee policies, stress testing, credit-risk monitoring, and delegated responsibilities. Funds must keep these procedures and the board minutes for six years, and certain credit risk analyses and related records for three years.
Monthly Website Disclosures and Share-Cancellation Notices
If you invest in money market funds, those funds must post monthly portfolio information and other specified information on their websites. If a retail or government money market fund plans to use or uses a share cancellation method during negative interest rates, it must disclose that to investors in advance and when it is used.
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