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Thursday, March 26, 2009|
Schapiro Wants to Strengthen Money Fund Regulation
New money market fund regulation may be just over the horizon. On Thursday SEC chair Mary Schapiro told the Senate Committee on Banking Housing that the commission has "built up significant money market fund expertise" and will soon act on it.
"We will bring that expertise to bear as we act quickly this spring to strengthen the regulation of money market funds by considering ways to improve the credit quality, maturity, and liquidity standards applicable to these funds," Schapiro stated. "These efforts will be aimed at shoring up money market fund investments and mitigating the risk of a fund ... 'breaking the buck.'"
Schapiro provided no further hints as to the SEC's designs for money fund regulation, nor did she mention the money fund-related recommendations offered earlier this month by the ICI's Board of Governors (see MFWire, 3/18/2009).
Printed from: MFWire.com/story.asp?s=21132
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