SEC's GOP Members Blast Schapiro On Money Market Reform

Law360, New York (August 28, 2012, 8:21 PM EDT) -- The two Republican members of the U.S. Securities and Exchange Commission on Tuesday pushed back against SEC Chairman Mary Schapiro's comments regarding the failure of her initiative to further reform the money market mutual funds industry, saying they were "dismayed" by her comments.

Commissioners Troy Paredes and Daniel Gallagher said in a statement issued late in the afternoon that they were not against the idea of further reforms of the approximately $2.5 trillion money market fund industry, but said that reforms Schapiro had been pushing for...
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