SEC will require money-market mutual funds to bolster cash

01/27/2010 | Bloomberg · Bond Buyer (free content), The

The Securities and Exchange Commission is requiring that money-market mutual funds be able to sell 10% of their assets in a day and 30% in a week. The SEC is also considering other changes for the $3.24 trillion industry, which warned that the changes might prompt investors to go elsewhere. "These rules will take important initial steps toward making money-market funds less vulnerable to runs," said SEC Chairman Mary Schapiro. "The new rules will have substantial benefits for investors."

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Bloomberg · Bond Buyer (free content), The

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