Money Market Funds: Stable—Until They're NotBy
Mary Schapiro, chairman of the Securities and Exchange Commission, lost her battle on Aug. 22 to change how money market funds are regulated. Such companies as Vanguard Group and Fidelity call the funds “one of the most conservative investment options offered” and say they “represent one of the safest types of mutual funds.” Schapiro terms the claim of stability utter “fiction.” In defeat, she called on other federal regulators to pick up where she left off.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market
- Germans Are Going Wild for a Show Set During the Dawn of the Nazis
- Greenwich Mansion Listings Pulled to Wait for a Better Day
- The U.K.'s $86 Billion Pension Problem Is About to Solve Itself
- U.S. Senate Adopts Budget, Giving Momentum to Trump's Tax-Cut Plans