Bloomberg writes "SEC Money-Market Fund Proposal Two Months Away, Gallagher Says". The article says, "New rules to reduce risk in money-market mutual funds will be proposed in the next two months by the U.S. Securities and Exchange Commission, which won't be slowed by a leadership change, a commissioner said today. Daniel M. Gallagher said the SEC's staff is working through technical details of the proposal, which failed to move forward last year under former SEC Chairman Mary Schapiro. Gallagher said he did not expect Mary Jo White, who takes over as chairman this week and sets its agenda, to slow consideration of the proposal, Gallagher said." The piece adds, "SEC Commissioner Elisse B. Walter, who will be replaced by White as chairman, said today that she hoped the FSOC would wait for the SEC's proposal before taking any further action."
