Search
 

Capital Part of Money-Fund Rule

SEC proposal is also said to include a requirement to float fund share prices.

By Steven Sloan, Bloomberg | Updated on June 27, 2012

The U.S. Securities and Exchange Commission was presented with a 337-page staff proposal to require the $2.5 trillion money-market fund industry to float share prices or hold more capital and curb redemptions, according to a person familiar with the proposal.

The proposal may put the SEC on course for a clash among commissioners and with the industry. The plan won’t advance if the three commissioners who have already raised concerns about its impact on money funds hold firm. If SEC Chairman Mary Schapiro wins enough support to release the proposal for public comment, the agency will face renewed opposition from the U.S. Chamber of Commerce and Federated Investors Inc. Chief Executive Christopher Donahue, who has threatened to sue if a rule is ultimately adopted.

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.