Securities Law Updates | New Releases/No Action Letters
December 15, 2008
SEC Grants New York Trust Fund's Request for No-Action Relief
SEC No-Action Letter to the Reserve New York Municipal Money-Market Trust-New York Municipal Money-Market Fund
File No. 811-03814, 11/18/2008
The Securities and Exchange Commission (“SEC”) will not recommend an enforcement action against Reserve New York Municipal Money-Market Trust-New York Municipal Money-Market Fund (the “Fund’) and the affiliate of the shareholder of the Fund that holds more than 5% of the Fund’s outstanding shares (“Purchaser”) if the Fund and the Purchaser enter into specific transactions.
By way of background, the Fund is a series of Reserve New York Municipal Money-Market Trust (“Trust”), an open-end management investment company registered under the Investment Company Act of 1940 (“Act”). The Fund is a money market fund that seeks to maintain a stable net asset…
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