Former Fidelity executive Robert Pozen writes on The Brookings Institution'​s website, "Make 2013 the Year to Resolve the Money Fund Debate." He explains, "The road to money market fund reform has been politically arduous. In August, Mary Schapiro, then the Chairwoman of the SEC, was forced to call off a vote on money market fund reform. Three of the five commissioners had indicated that they were not prepared to support the rules under consideration. Fortunately, two of the three dissenters have recently expressed receptivity to some reforms in certain circumstances. To break through the impasse within the SEC, the commissioners should consider a compromise first proposed by Walt Bettinger, President and CEO of investment services firm Charles Schwab. That proposal would affect money market funds held by large institutions -- such as pension funds and corporate treasuries -- while leaving retail investors largely unaffected.... I advocate that institutional money market funds should be required to adopt a fluctuating NAV. On the other hand, money market funds held solely by retail investors should be allowed to continue using a stable NAV at $​1.​00 per share."

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