SEC Unites Opponents on Money Fund Rule With Floating-Share Plan
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U.S. regulators are moving forward with proposed rules for money-market mutual funds that both supporters and opponents say won’t do enough to address risks in the $2.9 trillion industry.
The U.S. Securities and Exchange Commission’s proposal approved yesterday could require funds that cater to institutional investors to abandon the very feature that makes them appear riskless -- their fixed share price.