The Wall Street Journal writes "US Senate Panel Sets June Money-Fund Hearing". The article comments, "Securities and Exchange Commission Chairman Mary Schapiro will defend her push for additional reforms in the $2.6 trillion money-market mutual fund industry before a Senate Banking Committee hearing set for next month. The hearing, which is scheduled for June 21 but has yet to be publicly announced, marks heightened congressional scrutiny of regulators' calls for additional reforms in the money-fund space.... Schapiro, joined by Federal Reserve and Treasury Department officials, see money-funds as one of the weakest links in the financial system, despite 2010 reforms that increased money-fund resilience. Specifically, Schapiro has said she is concerned that funds remain susceptible to sudden drops in the value of securities they own. She also warns regulators no longer have access to the tools they used to buttress the industry in 2008.... Many of the panel's senators are seen as friendly to the fund-industry, which says new rules could damp returns for millions of investors, prevent them from getting all their money at once and spread systemic risk by driving investors to unregulated corners of the financial markets."

Email This Article




Use a comma or a semicolon to separate

captcha image

Daily Link Archive

2024 2023 2022
March December December
February November November
January October October
September September
August August
July July
June June
May May
April April
March March
February February
January January
2021 2020 2019
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2018 2017 2016
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2015 2014 2013
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2012 2011 2010
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2009 2008 2007
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2006
December
November
October
September