American regulators aren't the only ones taking a closer look at money market mutual funds. Jim Brunsden of Bloomberg reports
that the global Financial Stability Board (FSB
) set a deadline of September 2013 for proposing new regulations for "so-called shadow banking activities," including money funds.
"There are a range of tools in the policy toolkit that could ensure the shadow banking system is taken out of the shadows," said Mark Carney
, chairman of the FSB.
The FSB plans to present its proposals, which could also touch some ETFs, to the G20 nations when they meet in St. Petersburg, Russia in 2013.
Neil Anderson, Managing Editor
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