January 10, 2011
January 10, 2011
Dear Ms. Murphy,
I wish to go on record individually in opposition to some of the contemplated reforms involving money market mutual funds. Specifically, as expressed by the National Association of State Treasurers, I believe that a floating NAV could be problematic and might motivate investors to shift assets away from MMFs to unregulated cash-management vehicles. Furthermore, I am concerned that the proposed changes might impede the ability of my state to rely upon and/or purchase these securities.
Sincerely,
Todd Hollenbach
Kentucky State Treasurer