The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:August Brings a Big Day for Money Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 08, 2012

August Brings a Big Day for Money Funds

News summary by MFWire's editors

The SEC has finally settled on a date to vote on chairman Mary Schapiro's money-market mutual fund regulation changes. And the big day will be Aug. 29, SEC officials told the Wall Street Journal.

However, the date could be delayed as Schapiro works to gain more support. So far, she has had difficulty lining up support among the five agency commissioners.

Regulation changes outlined by a 337-page proposal would require money funds to utilize floating NAVs or set aside capital — an amount less than 1 percent of a fund's assets — to protect against losses while holding back a portion of shareholders' cash for 30 days when they seek to withdraw their money.

If Schapiro's proposal passes, it would represent a big loss for firms like Vanguard, Charles Schwab and Fidelity, which have spent at least $2 million to campaign against the proposal, the WSJ wrote. 

Edited by: Irene Park

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use