The SEC's press release says, "The Securities and Exchange Commission today announced the panelists and final agenda for the Money Market Funds and Systemic Risk Roundtable to be held May 10. The roundtable will address: The potential for money market funds to pose a systemic risk to broader financial markets – what makes money market funds vulnerable to runs and how should the role of money market funds be viewed through the prism of systemic risk analysis. Possible options for further regulatory reform and their implications, including floating NAV, bank regulation, and options that reflect a hybrid of these regulatory approaches: a private liquidity bank; mandatory reserve or capital requirements; and liquidity fees."
The List of Participants and Moderators for SEC Roundtable on Money Market Funds and Systemic Risk, May 10, 2011 include: Participants and Moderators - SEC Hosts Chairman Mary L. Schapiro, Commissioner Kathleen L. Casey, Commissioner Elisse B. Walter, Commissioner Luis A. Aguilar, Commissioner Troy A. Paredes; Representatives of the Financial Stability Oversight Council Chairman Sheila C. Bair of the Federal Deposit Insurance Corporation, Chairman Gary Gensler of the Commodity Futures Trading Commission, Chairman Deborah Matz of the National Credit Union Administration, Governor Daniel K. Tarullo, Member, Board of Governors of the Federal Reserve System, Under Secretary Jeffrey A. Goldstein, of the United States Treasury, Domestic Finance, Mario L. Ugoletti of the Office of the Director Federal Housing Finance Agency. SEC Moderators include: Director Eileen P. Rominger, Division of Investment Management, and Associate Director Robert E. Plaze of the Division of Investment Management.
The SEC says "Additional Participants include: Travis Barker, Chair, Institutional Money Market Funds Association, Global Business Manager, Front Office, HSBC Global Asset Management; Seth P. Bernstein, Managing Director, Global Head of Fixed Income, J.P. Morgan Asset Management; Robert P. Brown, President Money Market Group, Fidelity Management & Research Company; David Certner, Legislative Counsel and Director of Legislative Policy for Government Relations and Advocacy, AARP; Carol A. DeNale, Senior Vice President and Treasurer, CVS Caremark; John D. Hawke, Jr., Partner, Arnold & Porter LLP; Kathryn L. Hewitt, Treasurer, Harford County, MD, Government Finance Officers Association; Lance Pan, Director Investment Research and Strategy, Capital Advisors Group; Brian Reid, Chief Economist, Investment Company Institute; Erik R. Sirri, Professor of Finance, Babson College; Bill Stouten, Senior Portfolio Manager, Thrivent Financial; Rene M. Stulz, Everett D. Reese Chair of Banking and Monetary Economics, The Ohio State University; Paul Tucker, Deputy Governor, Financial Stability, Bank of England; Paul A. Volcker, Former Chairman, Board of Governors of the Federal Reserve System.
The Agenda for Roundtable on Money Market Funds and Systemic Risk, May 10, 2011 includes: 2:00-2:10 p.m. Opening Remarks -- Chairman Mary L. Schapiro; 2:10-2:20 p.m. Introductions -- Participants and Moderators; 2:20-3:05 p.m. Discussion -- Potential for Money Market Funds to Pose a Systemic Risk to Broader Markets What makes money market funds vulnerable to runs? How should the role of money market funds in the short-term funding market be viewed through the prism of systemic risk analysis?; 3:05-3:20 p.m. Break; 3:20-5:00 p.m. Discussion -- Regulatory Options and their Implications Floating NAV vs. Bank regulation, Hybrid approaches to regulation: Private liquidity bank, Hybrid approaches to regulation: Mandatory reserve/capital requirements, Hybrid approaches to regulation: Liquidity fees."
The release adds, "The roundtable discussion will begin at 2 p.m. and be available by webcast on the SEC website. The webcast also will be archived for later viewing. Public seating to view the webcast will be available in the auditorium at the SEC's headquarters at 100 F Street NE in Washington, D.C. Members of the public who wish to provide their views on the matters to be considered at the roundtable discussion may submit comments to the comment file for the President's Working Group Report on Money Market Fund Reform, as noted below. Comments to the Commission may be submitted by ... send[ing] an e-mail to rule-comments@sec.gov and include File Number 4-619 on the subject line.... All submissions should refer to File Number 4-619."
