Schapiro says SEC won't back down on money market regulations

02/26/2012 | InvestmentNews (free registration)

The Securities and Exchange Commission will move forward with plans to regulate money market funds despite an outcry from the industry, SEC Chairman Mary Schapiro said. New rules are needed to ensure the stability of money market funds after the industry's near collapse in September 2008, Schapiro said. The system is "working without a net," she said.

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