The pressure on regulators to not to implement further restrictions on money funds is growing, according to a Reuters
Former SEC officials have written a letter to the Financial Stability Oversight Council (FSOC
) asking them to "respect the jurisdiction, independence, subject-matter expertise and regulatory processes," wrote reporter Sarah N. Lynch.
The bi-partisan group included five ex-commissioners and six ex-senior staffers.
Among those in the group were former SEC Chairmen Roderick Hills
, David Ruder
, Richard Breeden
and Harvey Pitt
and former commissioners Roel Campos
and Paul Atkins
, according to Lynch.
For more details — including an alternative proposal offered by the group Occupy The SEC — check out the original article here
. The news was also covered in MarketWatch
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