The Washington alphabet soup continues to get mixed up this week, as the SEC met with the IRS to discuss floating net-asset values for money market funds, according to a Bloomberg report.

SEC staffers met with IRS officials to discuss the tax issues of a potential switching to floating NAVs.

This is just the latest wrinkle in the battle over money fund reform, one which has involved the SEC, the FSOC, the ICI, myriad mutual fund companies and multiple plans reforms.

“The tax treatment of a floating fund is one of the main reservations expressed in comment letters” filed recently with regulators by fund companies said Joan Swirsky, at attorney specializing in the matter.

For more details, check out the original article here. 

Edited by: Ben Geier


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