"Money funds ain't broke, don't need fixing" editorializes Investment News. The commentary says, "Here's a bit of advice to SEC Chairman Mary Schapiro, who has made it abundantly clear that she intends to make further changes to regulations governing money market funds: Quit while you are ahead. Ostensibly in an effort to make money funds safer for investors, she seems determined to compel changes that likely would make it more expensive for investors to buy money market funds, thereby reducing their already paltry yields and perhaps forcing many of them out of the business. If their usefulness as a cash management tool is significantly reduced by the changes being considered, there is a risk that investors will turn to vehicles that are far less stable, regulated and transparent. Rather than regulate money market funds out of business, the Securities and Exchange Commission should continue to monitor the effectiveness of the dramatic rule changes it made in 2010."
