SEC poised to vote on revamp of money market fund industry

The Securities and Exchange Commission is set to vote today on overhauling parts of the money market fund industry. SEC members will consider a proposal that could spell the end of the stable dollar-a-share value of money market funds, sources say. Meanwhile, Mary Schapiro, former head of the SEC, said the Financial Stability Oversight Council can take credit for the forthcoming rules covering money market funds. "FSOC kept the issue alive," Schapiro said.

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