FT on SEC's lack of progress
FT writes "US SEC's lack of progress on reform rules frustrates officials". It says, "The pace of passing major financial reform rules has slowed to a crawl at the US Securities and Exchange Commission, frustrating some officials at the SEC and at other regulatory agencies who are upset by the lack of activity, according to people with direct knowledge of the matter. While the SEC has issued numerous enforcement actions this year, the agency has made little progress on more than 40 rules on its 2014 agenda.... The major reforms on the SEC's to do list are new rules governing money market funds, which saw runs during the crisis, an overhaul of the opaque swaps market, and additional measures to facilitate the Jobs act. Some officials at the commission and members of the Financial Stability Oversight Council, of which the SEC is also a member, worry that the lack of progress helps market participants interested in dodging new regulations, according to people with knowledge of the matter." See also, Institutional Investor's article on Yu'e Bao, Alibaba's now almost $90 Chinese money market fund.
