Fed's Rosengren criticizes SEC money market proposal

09/30/2013 | Reuters

Eric Rosengren, president of the Federal Reserve Bank of Boston, took a highly negative view of the Securities and Exchange Commission's most recent plan to reform money markets, saying the regulator should start from scratch. "The SEC proposal to allow funds to impose liquidity fees and redemption gates should be dropped," Rosengren said. "This particular proposal is, in my view, worse than the status quo. It would only increase the risk of financial instability."

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