Revisions to Rules Regulatory Money Market FundsExtension of Comment Period

SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 210, 230, 239, 270 and 274

[Release Nos. 33-7052; IC-20184; S7-34-93]

RIN 3235-AE17

Revisions to Rules Regulatory Money Market Funds--Extension of

Comment Period

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule and form amendments; extension of comment period.

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SUMMARY: The Securities and Exchange Commission is extending from April

6, 1994 to May 6, 1994 the comment period for Release Nos. 33-7038 and

IC-19959, which proposed amendments to rule 2a-7 under the Investment

Company Act of 1940 and related rules and forms regarding money market

funds.

DATES: Comments must be submitted on or before May 6, 1994.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G.

Katz, Secretary, Securities and Exchange Commission, 450 5th Street,

NW., Washington, DC 20549. All comment letters should refer to File No.

S7-34-93. All comments received will be available for public inspection

and copying in the Commission's Public Reference Room, 450 5th Street,

NW., Washington, DC 20549.

FOR FURTHER INFORMATION CONTACT:

Martha H. Platt, Senior Attorney, or Kenneth J. Berman, Deputy Office

Chief, (202) 272-2107, Office of Disclosure and Investment Adviser

Regulation, Division of Investment Management, 450 Fifth Street, NW.,

Washington, DC 20549.

SUPPLEMENTARY INFORMATION: On December 17, 1993, the Commission issued

Rel. Nos. 33-7038 and IC-19959 (Dec. 17, 1993) [58 FR 68585 (Dec. 28,

1993)] (``Release No. 19959''), which proposed amendments to rule 2a-7

under the Investment Company Act of 1940 and related rules and forms.

The proposed amendments would tighten the risk-limiting conditions

imposed on tax exempt money market funds by rule 2a-7 under the

Investment Company Act of 1940; impose additional disclosure

requirements on tax exempt funds; and make certain other changes to the

Commission rules and forms applicable to all money market funds. The

amendments are designed both to reduce the likelihood that a tax exempt

fund will not be able to maintain a stable net asset value and to

increase investor awareness of the risks of investment in a money

market fund.

Since Release No. 19959 was published, the Commission has received

two requests from interested persons for an extension of the comment

period. In light of the importance of the amendments to money market

funds and the short-term tax exempt securities markets and the benefits

to the Commission of receiving carefully considered comments, the

Commission believes a one month extension of the comment period is

appropriate.

The comment period for responding to Release No. 19959 is extended

to May 6, 1994.

By the Commission.

Dated: March 31, 1994.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 94-8277 Filed 4-6-94; 8:45 am]

BILLING CODE 8010-01-M