As we wrote yesterday (​after our MFI Daily was sent), The Wall Street Journal published an article entitled, "SEC-​Money Fund Showdown: Aug. 29." It says, "After months of wrangling in Washington, U.​S. regulators are planning to vote later this month on a proposal to tighten rules governing the $​2.​6 trillion money-​market mutual-​fund industry. Securities and Exchange Commission Chairman Mary Schapiro has waged a public campaign this year to rein in money funds. Her goal: to avoid a repeat of 2008, when a run on one fund threatened to destabilize the financial system. But the proposal has faced stiff opposition from the mutual-​fund industry, which argues that the rules effectively would kill their businesses."

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