SEC’s Aguilar Open to Proposals for Overhauling U.S. Money Funds
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A U.S. Securities and Exchange Commission member who blocked the agency’s initial proposal to overhaul regulation of money-market mutual funds now says the process is on the right track.
Commissioner Luis Aguilar, a Democrat, said in an interview yesterday that a study issued by SEC staff has allayed his concerns that money-fund rules adopted in 2010 hadn’t been sufficiently studied. He said he’ll reconsider all the ideas presented before, including abandoning the industry’s traditional $1 share price.