Appears to function in the U7 snRNP complex that is involved in histone 3′-end processing. Increases U7 snRNA levels but not histone 3′-end pre-mRNA processing activity, when overexpressed. Required for cell cycle progression from G1 to S phases. Binds specifically to U7 snRNA. Binds to the downstream cleavage product (DCP) of histone pre-mRNA in a U7 snRNP dependent manner.