The fund giant cited is closing the funds because there aren't enough "munis" markets in the MMFs' targeted states.

The agency voted to raise the thresholds required for shareholders to submit proxy proposals.

"The spin is just remarkable," Sean McKessy, former SEC whistleblower chief, said. "Overall, this is a net-negative for whistleblowers."

How to build an organization in which everyone incorporates risk considerations into every decision—and why that's crucial to long-term success.