Subject: File No. 4-619
From: Richard Fredenburg

August 15, 2012

Chairman Schapiro
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090

Dear Chairman Schapiro:

I am writing to express my opposition to the regulatory proposals being considered by the SEC regarding Money Market Funds. Contrary to what some may believe, the vast majority of investors understand that MMFs are investments which are not guaranteed by the government or providers.

A primary objective for owning MMFs is the stable, $1.00 net asset value.

A move to adopt a floating NAV is the opposite of what I want in this type of asset. And tracking tax lots will only add another costly burden for investors and providers.

The liquidity of MMFs is equally important. Redemption restrictions of any kind, at any time, again, are the opposite of what investors want.

How can I access cash or buy securities when I want to if I have to wait for restrictions to come off my sweep accounts? If I want FDIC-insured CDs, I'll invest in them.

Any proposal that increases the cost of MMF offerings will only serve to lessen the yield I receive. No thank you.


Richard Fredenburg