U.S. Securities and Exchange Commission member Daniel Gallagher,who helped derail efforts to tighten rules for money market mutualfunds, said he would likely support a measure forcing the industryto abandon its marquee $1 share price.

Requiring money funds to have a fluctuating share price “is anattractive option that I am likely to support,” Gallagher, aRepublican, said in an interview.

Gallagher's remarks could help revive the debate at the SEC andoffer a path toward compromise for SEC Chairman Mary Schapiro,whose proposal ran aground last month.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.