Money Fund Rules Questioned

House Financial Services Committee chair urges SEC’s Schapiro to rethink money fund regs.

House Financial Services Committee Chairman Spencer Bachus is urging Securities and Exchange Commission Chairman Mary Schapiro to rethink her approach to rules for the money-market fund industry.

In a letter to Schapiro dated yesterday, Bachus said he was unsure why the agency should spend time considering rules for money-market funds when the SEC has struggled to meet deadlines to implement rules mandated by the 2010 Dodd-Frank Act.

Removing Risk

Bachus and Hensarling wrote that it’s not the SEC’s job to remove risk from investments.

Page 2 of 2

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.