Goldman Meets with SEC's Paredes
Another notice was recently posted on the SEC's "Comments on Proposed Rule: Money Market Fund Reform. It is entitled, "Memorandum from the Office of Commissioner Paredes regarding a December 15, 2009, meeting with representatives of Goldman Sachs," which describes a recent meeting with an SEC Commissioner. The notice says, "On December 15, 2009, Commissioner Troy A. Paredes and Scott H. Kimpel, Counsel to the Commissioner, met with the Honorable Annette Nazareth, Davis Polk & Wardwell LLP and the following representatives of Goldman Sachs: Tim O'Neill, Jim McCarthy, Jim McNamara, Dave Fishman, and Peter Bonanno. The participants discussed the Commission's proposed rules on money market fund reform." In other news, there was a tidbit on money funds buried in yesterday's Wall Street Journal story, "SEC Tackles Pay Linked to Risk". The WSJ said, "The rules address two of the biggest issues the SEC has faced in the past year: the Madoff fraud and the financial crisis. That leaves a number of other proposed rules that won't be enacted until next year at the earliest. Those include some contentious issues, such as setting up speed bumps to slow short-selling, making it easier for shareholders to nominate directors on corporate ballots, and reducing the risk and volatility of money-market mutual funds."
