Geithner Urges Money-Market Overhaul

Treasury Secretary asks FSOC to push SEC to tighten rules on funds.

Treasury Secretary Timothy F. Geithner urged a council of regulators to recommend that the U.S. Securities and Exchange Commission tighten rules on money-market mutual funds.

The Financial Stability Oversight Council should release for public comment options for an overhaul of the funds, an alternative to bank accounts for individuals and companies, Geithner said in a letter to the council today.

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