Search
 

Money Funds Vulnerable: Schapiro

SEC chairman to tell Senate panel that regulation is necessary to avoid bailouts.

By Steven Sloan, Bloomberg | Updated on June 21, 2012

U.S. Securities and Exchange Commission Chairman Mary Schapiro will tell a Senate panel today that money-market mutual funds are vulnerable to runs and must face rules to avoid taxpayer bailouts.

“Unless money-market fund regulation is reformed, taxpayers and markets will continue to be at risk that a money-market fund can transform a moderate financial shock into a destabilizing run,” Schapiro said in testimony prepared for a Senate Banking Committee hearing. “In such a scenario, policy makers would again be left with two unacceptable choices: a bailout or a crisis.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.