Fund Directions - SEC Proposal Puts Fund Boards On Spot

SEC Proposal Puts Fund Boards On Spot

The

Securities and Exchange Commission made public last week a proposal that would require money market fund boards to decide whether their funds sell to “retail” or “institutional” investors. The SEC revealed the proposal as part of a nearly 200-page document of money fund reforms posted on the Commission’s Web site Tuesday. In the document, the SEC said if the liquidity requirements it is calling for now had been in place during this past fall’s crisis, funds would have been able to satisfy more than 90% of the ...

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SEC Proposal Puts Fund Boards On Spot