The New York Times writes "Mutual Fund Leaders Aim to End Jam Over Rules". The article says, "Worried about a regulatory crackdown, mutual fund executives are pushing for limited restrictions on a controversial type of fund in an effort to end a bitter dispute between the government and the financial industry. Representatives from BlackRock, Fidelity, Vanguard and other large asset managers met on Friday with the head of the Securities and Exchange Commission and other regulators to present a plan intended to ward off runs on money market funds, low-risk investment vehicles that faced crippling withdrawals by investors during the financial crisis.... [T]he industry has come together in the last month around a plan proposed by the giant money manager BlackRock, under which the funds would charge a 1 percent fee if investors wanted to withdraw their money during times of financial stress.... It was unclear if Friday's meetings would lead to a compromise. John Nester, a spokesman for the S.E.C., said that while "there were many questions asked" in the meetings, "neither the chairman nor the staff gave any indication of their views on the presentation."" See also, FT's "Future of money market funds questioned".

Email This Article




Use a comma or a semicolon to separate

captcha image

Daily Link Archive

2024
December
November
October
September
August
July
June
May
April
March
February
January
2023
December
November
October
September
August
July
June
May
April
March
February
January
2022
December
November
October
September
August
July
June
May
April
March
February
January
2021
December
November
October
September
August
July
June
May
April
March
February
January
2020
December
November
October
September
August
July
June
May
April
March
February
January
2019
December
November
October
September
August
July
June
May
April
March
February
January
2018
December
November
October
September
August
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014
December
November
October
September
August
July
June
May
April
March
February
January
2013
December
November
October
September
August
July
June
May
April
March
February
January
2012
December
November
October
September
August
July
June
May
April
March
February
January
2011
December
November
October
September
August
July
June
May
April
March
February
January
2010
December
November
October
September
August
July
June
May
April
March
February
January
2009
December
November
October
September
August
July
June
May
April
March
February
January
2008
December
November
October
September
August
July
June
May
April
March
February
January
2007
December
November
October
September
August
July
June
May
April
March
February
January
2006
December
November
October
September