SEC proposes overhaul of money market fund structure

The Securities and Exchange Commission, under the leadership of Mary Jo White, has proposed a significant overhaul of the money market mutual fund industry. The SEC's proposal would allow the value of shares in certain funds to fluctuate, rather than remain at a fixed $1 a share. "It has been a journey to get to this point," White said. "Commission staff have spent literally years studying different reform alternatives and performing extensive economic analysis in arriving at these recommendations."

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