What is the Money Market Working Group?
The Money Market Working Group is a panel of industry leaders that was tasked in November 2008 with finding ways to strengthen the money market and money market funds. Established by the Executive Committee of the Board of Governors of the Investment Company Institute, the Money Market Working Group submitted its report to ICI’s Board on March 17, 2009. On March 17, the ICI’s Board of Governors passed a resolution strongly endorsing the recommendations of the Working Group and urging all ICI money market fund members to take actions to implement those recommended practices that can be done without regulatory action as soon as possible, but no later than September 18, 2009.
