The head of the Investment Company Institute minced no words when commenting on the SEC's plans to further tighten money-market fund regulation.
"Fifty-six million investors use these funds. The SEC proposal would be outrageous,"
InvestmentNews quoted Paul Schott Stevens
"It would drive a lot of providers out of the business immediately and those left would have a product that no one wants to buy," he said. "Otherwise, it's a great idea."
to see statement released by the ICI's executive committee on March 14.
article also includes quotes from Federated Investors CEO Chris Donahue
and Nancy Prior
, president of Fidelity Investments' money markets group.
Armie Margaret Lee
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