Investment News writes "Time to brace for new money fund rules" in an editorial. It says, "Financial advisers should begin preparing their clients for changes in the money market fund industry. Changes became almost inevitable when Treasury Secretary Timothy Geithner on Sept. 27 sent a letter to the Financial Stability Oversight Council urging it to consider issuing new rules for money market funds. The council can assert control over large money market funds by designating them "systemically important financial institutions".... Perhaps the best outcome for money market funds is for the SEC to revisit the matter quickly and impose new regulations before the FSOC can act. One of the commissioners who voted against Ms. Schapiro's proposals already has said he would support a floating NAV. Whether the final regulation comes from the SEC or the FSOC, investors almost certainly will find money market funds a less comfortable place than in the past to park money while seeking good investment opportunities. Now is the time for advisers to begin to prepare their clients for the coming changes. At the very least, clients may have to accept a floating NAV."

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