Schapiro Testifies on Money Market Fund Reforms

SEC Chairman Mary L. Schapiro testified on “Perspectives on Money Market Mutual Fund Reforms” before the Senate Committee on Banking, Housing, and Urban Affairs on June 21, 2012.  Her testimony discussed the history of money market funds, the remaining systemic risk they pose to the financial system even after the 2010 reforms, and the need for further reforms to protect investors, taxpayers and the broader financial system.