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SEC’s Aguilar Open to Changes in Money Fund Regs

Commissioner who blocked the agencys initial overhaul now says process is on right track.

By Jesse Hamilton and Christopher Condon, Bloomberg | Updated on December 10, 2012

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.

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