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

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

Rating:Bair Fires a Shot Over Money Market Reform Failure Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 17, 2012

Bair Fires a Shot Over Money Market Reform Failure

News summary by MFWire's editors

Former FDIC chair and current head of the Systemic Risk Council Sheila Bair has joined the outcry over the aborted attempt by the U.S. Securities and Exchange Commission to launch money market reforms, according to Barron's.

Bair's non-profit group released a statement on the failed reform attempt, declaring that Bair and her colleagues "were deeply disappointed to learn that three SEC Commissioners have refused to publish for public comment a proposed rule to reduce the systemic risk posed by money market funds."

"Given the size and scope of this risk we believe the Financial Stability Oversight Council (FSOC) — and its members — should use their individual and collective authorities to address this risk before another potentially destabilizing run," the statement said.

SEC chair Mary Schapiro had previously pushed for a number of reforms for money market funds, but surrendered due to lack of support from her fellow SEC commissioners.

The statement from Bair's group expressed support for Shapiro and lambasted her other commissioners.

“We applaud Chairman Schapiro for her leadership on this important issue, and we regret the unwillingness of a majority of the Commission to seek public comment on this vital reform. Given the current impasse at the SEC, we believe the FSOC should use the full range of authorities given it under Dodd-Frank to effectuate needed reforms," the statement continued.

To read more on the subject, go to article on the Barron's website.

 

Edited by: HFD


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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use