Why Did SEC Commissioner Aguilar Oppose Money Market Fund Reform?

Today's New York Times features a story on SEC Commissioner Luis Aguilar's decision to oppose SEC Chairman Schapiro's proposal to reform money market funds.  His was the swing vote on the 5-member Commission.  According to Aguilar, he objected to the approach taken by Schapiro and cited the need for additional information.  The Times reports that Aguilar has met frequently with industry representatives this year.  Aguilar also worked for the industry as an attorney from 1994-2002.  NYTimes, A Regulator’s Key Role in Failed Mutual Fund Reform