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SEC proposal is also said to include a requirement to float fund share prices.
Commission could consider the overhaul of regulations as soon as July.
Senators from both parties skeptical of SEC chairmans attempt to overhaul money-fund regulations.
SEC chairman to tell Senate panel that regulation is necessary to avoid bailouts.
Rule-making at near-halt as lobbyists wield cudgel of cost-benefit analysis.
House Financial Services Committee chair urges SEC to rethink money fund regs.