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Rating:Did SEC Alumni Help Kill Schapiro's Money Fund Reforms? Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, February 12, 2013

Did SEC Alumni Help Kill Schapiro's Money Fund Reforms?

News summary by MFWire's editors

SEC alumni may have helped take down last year's money market mutual fund reform proposals at the agency.

Yesterday the non-profit government watchdog POGO (Project on Government Oversight) released a 60-page report titled "Dangerous Liaisons: Revolving Door at SEC Creates Risk of Regulatory Capture." POGO found that many SEC alumni now in the private sector helped lobby the agency last year in the fight against then-chairman Mary Schapiro's proposed money fund reforms.

Sarah Lynch of Reuters covered the report.

The report highlights former commissioner Laura Unger, ex-division of investment management chief and current Mutual Fund Directors Forum CEO Susan Ferris Wyderko, and Invesco alum and current commissioner Luis Aguilar.

"I don't think I'm anybody's puppet," Aguilar told POGO.

"It's hard to know how much any of these alumni contributed [to the demise of Schapiro's proposal]," POGO wrote. 

Edited by: Neil Anderson, Managing Editor

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