MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, January 16, 2013 Industry Leaders Throw Their Weight Behind Liquidity Fees Both Vanguard and SIFMA have declared that said they could support certain "liquidity fees" on money market mutual funds, as the latest step in the $2.6 trillion industry efforts to stave off more sweeping regulations, according to Reuters. Reuters reports that similar fees have previously have been suggested by BlackRock as a way to protect money funds against sudden runs by investors. Both Vanguard and the trade group, the Securities Industry and FinancialMarkets Association (SIFMA), made their comments in letters to the U.S. Financial Stability Oversight Council. The newswire also reports that the risk council” has received a flood of letters in response to broader rule changes it proposed, such as having the funds abandon their traditional fixed net asset value of $1 per share, or having them build up buffers.” On Tuesday, the council said it will extend until mid-February a deadline for public comments, Reuters reports. Printed from: MFWire.com/story.asp?s=42706 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |