The U.S. Chamber of Commerce asked Treasury Secretary Timothy Geithner to give up his efforts to bring about reforms to regulations governing money market funds, the Hill reports. In a letter to Geithner yesterday, David Hirschmann, head of the Chamber's Center for Capital Markets Competitiveness, argues that the push to overhaul regulations could jeopardize money funds.
After Securities and Exchange Commission Chairman Mary Schapiro called off the commission's vote on proposed regulatory changes in August because she didn't have enough votes to pass the changes, Geithner called on the Financial Stability Oversight Council (FSOC) to push the SEC to enact changes.
Hirschmann's letter argues that regulators haven't done the research necessary to determine the what changes should be made in regulations.
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:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
