“WASHINGTON—The $2.6 trillion money-market-fund industry might not be free much longer of the postcrisis strictures that the Securities and Exchange Commission chairman tried, and failed, to impose earlier this year.

“The Financial Stability Oversight Council, a board of top U.S. regulators established by the Dodd-Frank financial overhaul, approved several recommendations to overhaul money-market funds in an open meeting Tuesday. The aim of the council’s push is to prevent runs on money-market funds during a financial crisis, as happened in 2008 when Lehman Brothers Holdings Inc. filed for bankruptcy protection.”

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Read Scott Patterson’s full New York Times article here