BNY Mellon to Host Web Seminar on New Rules for Money Market Funds

Changing regulations call for increased liquidity and reporting

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Feb 08, 2010, 10:04 ET

NEW YORK, Feb. 8 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing, the global leader in securities servicing, will host a web seminar on the impact of proposed rule changes by the U.S. Securities and Exchange Commission on money market funds. The intent of the seminar is to educate senior-level mutual fund company executives and consultants about the proposed changes.

"These new regulations are likely to result in greater liquidity requirements, an increase in reporting and restrictions on securities investing," said Joseph F. Keenan, managing director and head of relationship management at BNY Mellon Asset Servicing. "The changes could be dramatic and could alter the purpose and role of these funds investors' portfolios."

Keenan will host the session, which is scheduled for 1 p.m. on February 10, 2010. The expert panelists will be Jane G. Heinrichs, senior associate counsel for Investment Company Institute; Matthew J. Bromberg, managing director and senior counsel for BNY Mellon; Joan Ohlbaum Swirsky, counsel for Stradley Ronon's Investment Management/Mutual Funds Practice Group; and Edward J. Von Sauers, senior credit strategist for Dreyfus Corporation.

In addition to discussing the proposed rule changes, the web seminar will focus on the potential impact of the changes on money markets and how fund managers are preparing their products to meet anticipated guideline updates. It also will focus on the opportunity for innovation in this product group.

For more information about this event and registration, please click here: http://www.emii.com/emiistub.aspx?StubID=6285

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at www.bnymellon.com.

SOURCE BNY Mellon