U.S. regulator is determined to implement money-fund reform

03/16/2012 | Reuters

Mary Schapiro, chairman of the Securities and Exchange Commission, said money market funds need reform to prevent a repeat of the 2008 run by investors after the Reserve Primary Fund "broke the buck." "As a regulator who saw the damaging effects of the 2008 run on money market funds, I find it hard to remain on the sidelines despite calls to declare victory on this issue," Schapiro said.

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