"SEC Chairman to Ask for Greater Control" writes The Washington Post, saying, "Securities and Exchange Commission chairman Mary Schapiro plans to tell lawmakers tomorrow ... in a scheduled appearance before the Senate Banking Committee ... that the SEC plans to harmonize regulations governing investment advisers and brokers and tighten rules surrounding money market mutual funds, according to a copy of her testimony, which was obtained by the Washington Post." Also, see Forbes' "ADP trims fiscal 2009 profit, revenue expectations", which says, "ADP attributed the lowered earnings forecast to a charge of $15 million, or 2 cents per share, due to a loss from money it put into the Reserve Primary Fund. The large money-market mutual fund collapsed last fall, exposing clients to losses in a normally safe-harbor investment.... The amount reflects an updated figure that the money fund's manager cited on Feb. 26 in announcing it had set up a reserve to cover legal fees and claims." Finally, see Structured Credit Investor's "SIV asset sale scheduled", which says, "Standard Chartered's SIV, Whistlejacket, has entered into restructuring and portfolio sale agreements with Goldman Sachs. The SIV's restructuring process looks set to mirror...."
