S.1117 - Consumer Financial Choice and Capital Markets Protection Act of 2017115th Congress (2017-2018)
|Sponsor:||Sen. Toomey, Pat [R-PA] (Introduced 05/11/2017)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 06/26/2018 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-354. (All Actions)|
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Summary: S.1117 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (05/11/2017)
Consumer Financial Choice and Capital Markets Protection Act of 2017
This bill amends the Investment Company Act of 1940 to allow a money market fund, under specified conditions, to elect to operate using a different method of valuation than is otherwise required. A money market fund that elects to do so shall not be subject to specified requirements related to the imposition of liquidity fees.
Certain federal assistance may not be provided directly to any money market fund. This limitation on federal assistance must be disclosed in a money market's advertising and sales literature.