A U.S. Securities and Exchange Commission member who blocked the agency's initial proposal to overhaul regulation of money-market mutual funds now says the process is on the right track.
Commissioner Luis Aguilar, a Democrat, said in an interview last week that a study issued by SEC staff has allayed his concerns that money-fund rules adopted in 2010 hadn't been sufficiently studied. He said he'll reconsider all the ideas presented before, including abandoning the industry's traditional $1 share price.
"The study indicates that the 2010 amendments weren't enough," Aguilar said. "Given the information that currently exists, it may be appropriate to consider the various proposals through the prism of the new information."
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