August 22, 2012
SEC Will Take Up Money Market Funds, Solicitation Rule Next Week
Will the SEC propose next week to reform money market funds? SEC Chairman Schapiro says changes are necessary to avoid the "break the buck" panic of the last financial crisis, but industry -- and at least two fellow Commissioners -- are opposed. According to the Wall St. Journal, Commissioner Aguilar is the swing vote, and he's not talking. WSJ, SEC to Confront the Money-Fund Dilemma
The SEC will also consider proposed rules that would implement the JOBS Act and allow solicitations under Reg D at its August 29 meeting.
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UPDATE: Aguilar would prefer not to, SEC hands the money market reform project to FSOC/Fed/Treasury. http://www.sec.gov/news/press/2012/2012-166.htm
Posted by: aeli | Aug 23, 2012 6:57:38 AM