New SEC Head's 1st Speech Sidesteps Money Market Reform

Law360, New York (May 3, 2013, 5:40 PM EDT) -- In her first speech as chairman of the U.S. Securities and Exchange Commission, Mary Jo White shied away on Friday from addressing money market fund reform but praised the agency's proposed new rules for cross-border derivatives trading as promoting “internationally effective regulation.”

White was diplomatic on the money market fund issue, which has caused a division within the SEC itself and put regulators and the financial services industry at loggerheads. After the global financial meltdown, the agency attempted to fashion new regulations, but failed to reach...
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