Ask Reggi Your Question Now
Can you summarize SOR /2001-475?
Consolidated Regulations > Money Market Mutual Fund Conditions Regulations
Short Summary
The Money Market Mutual Fund Conditions Regulations, issued under the Canadian Payments Act, govern the conditions that money market mutual funds must satisfy. These regulations apply to money market mutual funds and outline the following conditions: (a) all assets must be invested in cash, cash equivalents, evidences of indebtedness with a remaining term to maturity of 365 days or less, or floating rate evidences of indebtedness; (b) the portfolio of evidences of indebtedness must have a dollar-weighted average term to maturity not exceeding 90 days; (c) at least 95% of assets must be invested in cash, cash equivalents, or evidences of indebtedness denominated in the currency used to calculate the net asset value per security; and (d) at least 95% of assets must be invested in cash, cash equivalents, or evidences of indebtedness of issuers with approved credit ratings. These regulations came into force on November 7, 2001.
Whom does it apply to?
Money market mutual funds
What does it govern?
Money Market Mutual Fund Conditions Regulations
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Canada