Mutual fund website ignites.​com featured an article yesterday, entitled, "Congress Weighs In on Money Fund Reforms." It says, "Congress is using the recently passed budget that will fund the government through September to put pressure on the SEC to conduct a thorough cost-​benefit analysis of final money market fund reforms. President Barack Obama signed the spending bill into law on Friday. The conference report that accompanies the law contains a provision that directs the SEC to conduct a "​rigorous economic analysis" of final money market fund reforms. The conference report signals legislative intent and is not binding. But the language in the report regarding money fund reforms is significant because it puts additional pressure on the Securities and Exchange Commission to conduct a thorough cost-​benefit analysis of any final reforms. It also implicitly recognizes that the SEC has jurisdiction over money fund reforms, rather than the Financial Stability Oversight Council or other entities, sources say." ignites quotes the conference report, "The [​Appropriations] Committee expects that the final [​money market fund] rules will take into account the substantive concerns of stakeholders who use these products for short-​term financing needs."

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