Reuters writes "U.S. SEC taking steps to watch for money market fund outflows". The article says, "The U.S. Securities and Exchange Commission is taking steps to help spot if money starts flowing to alternative investments as the SEC cracks down on money market funds. The SEC is due to meet next week to propose new rules for the roughly $2.6 trillion money market fund industry, in the hope extra safeguards will prevent the type of runs on money funds that happened during the financial crisis. At the same meeting, the SEC plans to propose a reform that would require less-regulated private liquidity funds to make additional disclosures to the SEC. The proposal was included at the request of SEC Democratic Commissioner Luis Aguilar. It is designed as a way to detect potential outflows from money market funds into the less-regulated funds, according to a person familiar with the matter." In other news, ICI's latest "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets increased by $12.20 billion to $2.613 trillion for the week ended Wednesday, May 29, the Investment Company Institute reported today. Taxable government funds increased by $6.85 billion, taxable non-government funds increased by $6.24 billion, and tax-exempt funds decreased by $900 million."
