Obscure Rule to Fix $2.7 Trillion Market Draws Tireless Opponent
- Federated opposes ‘floating NAV’ for money-market funds
- Firm leads persistent lobbying campaign to reverse SEC rule
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It’s an obscure rule that few people understand, but its backers hope it will correct a crucial flaw in a $2.7 trillion market whose collapse in 2008 froze financial transactions around the world.
There’s one snag: the relentless bulldogs at Federated Investors Inc.