Money market funds continue to draw ink and pixels, this week with a lengthy story in the New York Times
The gist of the story is that the industry is currently directionless, waiting to see just what regulators have in store.
“There is a huge overhang of uncertainty for the industry right now,” said James J. Angel
, a finance professor at Georgetown who has researched the money-fund issue, to reporter Diana B. Henriques. “Eventually, the S.E.C. is going to do something. The question is, what will that be?”
The wait-and-see approach is especially true as the industry waits for Mary Jo White to take over at the SEC, the story notes.
The story also includes a lengthy history of the troubles facing money market funds, from the Reserve Fund to the idea of the floating NAV.
For more details, check out the original story here
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