​ SEC Releases Final NRSRO Regulations; No Rule 2a-​7 Changes, For Now. The Securities & Exchange Commission has issued its final rule on "Oversight of Credit Ratings Agencies Registered as Nationally Recognized Statistical Ratings Organizations", which allows for more competition in the space currently dominated by Moody'​s, Standard & Poor'​s and Fitch Ratings. Money fund professionals are concerned about the possible impact to and weakening of Rule 2a-​7, the regulations governing money funds, because the rule defines "​Eligible Securities" ("​First Tier" and "​Second Tier") based on ratings from NRSROs. The SEC release mentions some concerns of money funds and says, "​As the program develops, the Commission will evaluate whether modifications to these rules [​2a-​7] would be appropriate." Note: Thanks to Reed Smith'​s Stephen Keen for pointing these changes out.

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