A year ago, when opposition from the asset-management industrykilled her plan to make money-market mutual funds safer, U.S.Securities and Exchange Commission (SEC) Chairman Mary Schapirolooked to Timothy Geithner, then the Treasury Secretary, to tackle“one of the pieces of unfinished business from the financialcrisis.”

It remains unfinished.

As Schapiro and Geithner prepared to leave government toward theend of 2012, the effort started anew to make the $2.6 trillionmoney-fund industry less likely to disrupt global financialmarkets. Norm Champ, a Harvard University-trained lawyer and theSEC's top regulator of mutual funds, canvassed the remaining fourcommissioners, seeking to find common ground on which new rulescould be built after Schapiro failed to corral enough votes to pushher plan forward.

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.