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August 25, 2006
Google Has Too Much Money, Possibly Classified As Investment Fund
Bloomberg reports and the Wall Street Journal reports that Google has asked the SEC for an exception to a rule that would classify them to be regulated as a mutual fund company. Basically, if a company's securities make up more than 40 percent of their assets, then they can be classified as mutual fund company. Google's plea to the SEC was "that it is not in the business of investing, reinvesting, or trading in securities." Right now no one knows if Google will be granted the exemption.
Posted by Barry Schwartz on August 25, 2006 10:01 AM
