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."

Email This Article

Use a comma or a semicolon to separate

captcha image