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Tuesday, March 20, 2012

'Some of Us are Losing Our Heads'

News summary by MFWire's editors

SEC commissioner Elisse Walter was the keynote speaker yesterday at the ICI's Mutual Funds and Investment Management Conference in Scottsdale. Her message to fundsters? Refrain from talking to the press on money market fund reform.

"For some reason, lately the topic of money market reform seems to be making all of us emotional, strident and, to a certain extent, some of us are losing our heads," Walter, a Democratic commissioner, was quoted by InvestmentNews as telling the audience.

The topic, she said, is "too important to be played out through a public volley of opinions, but that's where we are today.

"I'd encourage firms to stay away from media statements. We need to restart constructive engagement, rather than destructive disengagement. The current environment is not conducive to reaching the best conclusions," the pub quoted her as saying.

Click here to read Walter's remarks as posted on the SEC Web site.

Reuters, Crane Data and Barron's also wrote about her keynote. 

Edited by: Armie Margaret Lee


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