New Money Market Fund Proposals Put Onus Back On SEC

Law360, New York (November 13, 2012, 7:04 PM EST) -- A council of U.S. financial regulators on Tuesday put forward new proposals for regulating the $2.5 trillion money market mutual fund industry, a move likely to put pressure the U.S. Securities and Exchange Commission to finally advance its own stalled rulemaking process.

The Financial Stability Oversight Council, a panel of financial regulators led by Treasury Secretary Timothy Geithner, put forward three recommendations for bringing new rules to the money market fund industry. FSOC's recommendations hew close to proposals pushed by SEC Chairman Mary Schapiro before she...
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