Fed bosses want tougher plan for money-fund regulation

Leaders of the Federal Reserve's 12 regional banks have warned the Securities and Exchange Commission that its plan to regulate money market funds doesn't go far enough. "We continue to believe that the liquidity fees and temporary redemption gates alternative does not constitute meaningful reform and that this alternative bears many similarities to the status quo," according to a joint letter sent by Federal Reserve Bank of Boston President Eric Rosengren.

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