"Next run on money market funds could kill industry, SEC official says" writes Investment News. It says, "If money market funds experience another run similar to the one that happened in September 2008, the money fund industry is unlikely to survive in its current form," according to `Bob Plaze, who says the SEC could finalize their reform proposals by the end of the year. Plaze, associate director of the SEC's Division of Investment Management, spoke at a panel discussion sponsored by the District of Columbia Bar Association reports Investment News. The story says, "Mr. Plaze also is co-chairman of the money market fund subgroup of the President's Working Group on Financial Markets, which is to issue a report by Dec. 1 making recommendations on whether changes are necessary to reduce money fund's susceptibility to runs.... The SEC is likely to change money market fund regulation in two stages, he said. The first set of regulations will be based on the proposal issued by the SEC in June.... More sweeping rules, dealing with controversial issues like whether money market funds should have a floating net asset value instead of a fixed $1 per share value, could come next year, Mr. Plaze said."
