SEC Division of Investment Management staff letter: Dreyfus Money Funds

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
DIVISION OF
INVESTMENT MANAGEMENT
October 20,2008
6

Jack W: Murphy
Dechert LLP
1775I Street, N.W.
Washington, DC 20006-2401
Re: Dreyfus Basic Money Market Fund, Inc. (File No. 8 1 1-06604) Dreyfus Liquid Assets, Inc. (File No. 81 1-0241 0) Dreyfus Worldwide Dollar Money Market Fund (File No. 8 1 1-0571 7) Dear Mr. Murphy:
Your letter of September 16,2008 requests our assurance that we would not recommend that the Commission take any enforcement action under Sections 17(a)', 1 7(d12 and 12(d)(3)~ of the Investment Company Act of 1940 (the "Act"), and the rules thereunder, if Dreyfus Basic Money Market Fund, Dreyfus Liquid Assets, Inc., and Dreyfbs Worldwide Dollar Money Market Fund (the "Funds), and The Bank of New York Mellon Corporation ("BNY Mellon"), enter into the arrangement summarized below and more fully described in the letter. The Dreyfus Corporation (the "Adviser") is an investment adviser registered under the Investment Advisers Act of 1940 and is the Funds' investment adviser. BNY Mellon is the parent company of the Adviser. 1 Section 17(a)(l) generally makes it unlawful for any affiliated person of a registered investment company, or an affiliated person of such person, acting as principal, to knowingly sell any security or other property to the registered investment company. 2 Section 17(d) generally makes it unlawful for any affiliated person of a registered investment company, or any affiliated person of such a person, acting as principal, to effect any transaction in which the registered investment company is a joint or joint and several participant with such person in contravention of rules and regulations adopted by the Commission. 3 Section 12(d)(3) generally makes it unlawful for any registered investment company to acquire any security issued by, or any interest in the business of, any broker-dealer, any person engaged in the business of underwriting, or an investment adviser of an investment company, or an investment adviser registered under the Investment Advisers Act of 1940.