Sunday's New York Times features "Money Funds, Waiting for the Fog to Lift". The article says, "For decades, investors have waited out financial fogs like these in the haven of money market mutual funds. Unfortunately, the outlook for money funds themselves is just as obscure these days. After wrangling for four years over new rules that would fundamentally change how money funds work, the Securities and Exchange Commission has hit the pause button to await the arrival of a new chairwoman and to study the accounting and tax issues raised by its reform agenda. The money-fund industry, meanwhile, is bracing for new rules while facing old realities: low interest rates that discourage investors and compress fees.... A result is expected to be a new slate of proposals that can pre-empt the oversight council and win passage on a commission that will soon be led by Ms. White -- who has kept her own counsel on the topic. At her recent confirmation hearing, she barely mentioned the phrase "money market funds" in her prepared statement. Questioned about the issue, she said only that she was "acutely aware of the value of the money market fund product" and would "take care that that is not harmed".... The next shoe may drop soon. The annual meeting of the Investment Company Institute is scheduled for the first three days of May in Washington; traditionally, the head of the S.E.C. is the closing speaker at that event. If Ms. White has been sworn in by then, the lectern will most likely be hers -- and the fog may finally start to lift a little for money-fund investors."

Email This Article




Use a comma or a semicolon to separate

captcha image

Daily Link Archive

2024 2023 2022
March December December
February November November
January October October
September September
August August
July July
June June
May May
April April
March March
February February
January January
2021 2020 2019
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2018 2017 2016
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2015 2014 2013
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2012 2011 2010
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2009 2008 2007
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2006
December
November
October
September