Skip to main content

Newsroom

June 5, 2013

S.E.C. to Vote on Proposal to Overhaul Money Funds

“Regulators are preparing to take a crucial step toward overhauling some parts of the widely used money market fund industry.

The five members of the Securities and Exchange Commission are scheduled to vote Wednesday morning on a proposal that could eventually do away with the stable dollar-a-share value that has long defined money market funds, according to people briefed on the proposal.

The proposal suggests that it may be necessary to eliminate the fixed share value only on money funds used by big institutional investors, not those used by small investors, and only on so-called prime money funds that invest in corporate debt, not on money funds that invest in government and municipal debt. The affected funds are the ones that were hit the hardest during the financial crisis in 2008.

The long document to be voted on Wednesday is only a proposal, and if it is passed it will face months of public comment before a final vote.”

***

Read the full New York Times article here

In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today