SEC Money-Fund Rule Said to Make Riskiest Float Value
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U.S. securities regulators have narrowed the target of new rules for money-market funds, according to a person familiar with the matter, limiting changes to a smaller set of funds than many executives anticipated.
The Securities and Exchange Commission proposal would impose a floating-share value only on funds that buy corporate debt and cater to institutional clients, said the person, who asked not to be identified because the plan isn’t public.