Economists at the Federal Reserve Bank of New York are warning that a Securities and Exchange Commission plan to curb the risks of runs in the $2.6 trillion money-market mutual fund industry could actually encourage the exact effect that the proposal is meant to prevent, The Wall Street Journal reports.
The SEC’s proposal was narrowly approved by the Commissioners in July. Part of the new regulations would allow money funds to impose fees for investors to redeem their shares and place temporary blocks on withdrawals during times of market stress.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
