Who will gather client data?

The mutual fund industry is urging regulators to require broker-dealers to share information about their money market fund clients.   This request is based on concern about the stability of money market funds that was questioned during the 2008 financial crisis when investors withdrew billions of dollars from their accounts in a matter of days.    In September 2008, the Reserve Primary Fund from Reserve Management Co. Inc. “broke the … [Read more...]

Who will gather client data?

client

The mutual fund industry is urging regulators to require broker-dealers to share information about their money market fund clients.   This request is based on concern about the stability of money market funds that was questioned during the 2008 financial crisis when investors withdrew billions of dollars from their accounts in a matter of days.    In September 2008, the Reserve Primary Fund from Reserve Management Co. Inc. “broke the … [Read more...]

SEC Tightens Rules for Money-Market Funds

The Securities and Exchange Commission made substantial changes in liquidity and disclosure requirements of money-market funds.   The new rules require money-market mutual funds hold some assets that could be easily converted to cash and to disclose new information on fund values.   The goal is to strengthen protection for investors in money-market funds, which hold about $3.2 trillion in assets. Money-market funds are open ended mutual … [Read more...]