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Rating:Schapiro's Offer of Choice for Money Funds Is No Choice At All Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 29, 2012

Schapiro's Offer of Choice for Money Funds Is No Choice At All

News summary by MFWire's editors

To float or not to float. That is the choice money market mutual fund advisors will need to make about their fund's NAV. The ongoing Securities and Exchange Commission battle to regulate the money funds industry got more specific yesterday. SEC chairman Mary Schapiro said funds would have to choose between holding more capital and being more transparent about the fluctuations in their value, reported Jessica Holzer in the Wall Street Journal.

Holzer reported that Schapiro's plan would require money funds to either maintain a cushion or lead behind the $1-per-share goal.

The plan is still opposed by the money funds industry, and has been questioned publicly by three SEC commissioners.

It's a complicated process, Schapiro told Holzer.

It's a bit more challenging a rule making than it might seem on the surface," she said. 

Edited by: Ben Geier

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