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In response to the push for stricter regulation of the money fund industry in the wake of the financial crisis, a few money fund companies have backed a plan to charge customers a fee to withdraw money from funds in times of financial stress. But U.S. regulators have given the industry’s plan the cold shoulder, according to the Wall Street Journal.

Securities and Exchange Commission officials think the proposal to charge fees could lead to the same kind of runs on money funds that occurred in the wake of Lehman’s collapse. The industry’s plan includes a temporary halt on redemptions if markets are under stress, followed by a period in which investors withdrawing funds would have to pay a fee. The Journal says SEC staffers worry the plan would lead investors to pull out funds in anticipation of such moves.

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