US Mayors Come Out Against SEC Money Market Regs

Law360, New York (August 22, 2012, 4:03 PM EDT) -- The mayors of 14 U.S. cities and the U.S. Chamber of Commerce joined forces on Monday to oppose new U.S. Securities and Exchange Commission measures aimed at tightening the regulation of the $2.6 trillion money market mutual funds industry. 

Stephanie Rawlings-Blake of Baltimore, Michael Nutter of Philadelphia, Jerry Sanders of San Diego and other officials said in a letter to SEC Chairman Mary Schapiro that the new regulations would hike up costs and dissuade investors from the savings instrument, once thought as a safe bet for...
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