Representatives from BlackRock
, J.P. Morgan Chase
all met with the SEC earlier this month to negotiate on possible new regulations to the money-market mutual fund industry, The Wall Street Journal reported
The meeting is yet another event in SEC Chairman Mary Schapiro
's efforts to more heavily regulate the mutual fund industry.
With one of her proposals, Schapiro wants to stop investors from withdrawing all of their money from the funds at once, forcing investors to wait 30 days before getting back three to five percent of it.
The fund shops prefer instituting a charge on investors withdrawing their funds during a special went such as the 2008 financial crisis.
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