Industry to propose rule changes for money market funds

03/18/2009 | NYTimes.com

Leaders of the mutual fund industry are set to propose rule changes that would promise investors in money market funds more safety, but lower yields. The proposal has been in the works since 2007, but took on a greater sense of urgency in September, after a run on money market funds. "The major money managers already apply these policies, and they are still competitive," said George Gatch, president of JPMorgan Funds, who was part of the study group that developed the proposal.

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