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Investment Managers Seek Money Fund Deal

As FSOC action looms, several firms will meet with the SEC today to discuss a possible compromise.

By Christopher Condon and Robert Schmidt | Updated on October 26, 2012

Investment managers including BlackRock Inc., under pressure to pre-empt action by a new super-committee of regulators, are seeking to end an impasse over money-fund reform, according to three people with knowledge of the matter.

Officials from several firms, as well as representatives from the Investment Company Institute, the industry’s trade group, are scheduled to meet with the Securities and Exchange Commission today to discuss proposals for a potential compromise, said the people, asking not to be identified because the information is private. The industry helped block a plan in August that was backed by SEC Chairman Mary Schapiro.

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