MarketWatch writes "SEC nominee White backs money-fund reform". The piece says, "President Barack Obama's nominee to head the Securities and Exchange Commission, Mary Jo White, told lawmakers Tuesday that if confirmed she would seek to take prompt action to reform the $2.7 trillion money-market-fund industry. White said she has been studying the issue, adding that she understands the value of money market funds. As expected, White added that she doesn't have a conclusion yet about how to proceed." She said, "Money-market funds, which are very important investment products, are in the heartland of the SEC's expertise. It is in the SEC's responsibilities as it is focused on now and has been before in determining what additional reforms there should be to that investment product." MarketWatch adds, "Reform efforts stalled last year but commissioners at the agency recently seem to be opening up to the idea that more regulation is necessary. The Obama administration has been keen on imposing a capital buffer or some other reforms for the industry."
