{"id":1089,"date":"2012-07-06T14:46:42","date_gmt":"2012-07-06T14:46:42","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/07\/sec_to_push_for_money_market_m"},"modified":"2022-03-09T16:20:23","modified_gmt":"2022-03-09T22:20:23","slug":"sec-to-push-for-money-market-m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-to-push-for-money-market-m\/","title":{"rendered":"SEC to Push for Money Market Mutual Fund Reform Provisions Despite Opposition"},"content":{"rendered":"<p>\t\t\t\tAccording to Securities and Exchange Commission Division of Investment Management deputy director Robert Plaze, the division is ready to recommend new reforms for mutual market funds as soon as Chairman Mary Schapiro gives the go ahead. Plaze spoke to reporters following at panel at the Mutual Fund Directors Forum&#8217;s yearly policy conference in DC on June 19. He was clear to note that the opinions he expressed are his own. On June 21, Schapiro said that she plans to wait until later in July to decide whether to push the division&#8217;s recommendations to a commission vote.<\/p>\n<p>While lawmakers and industry members disagree, Schapiro has stayed firm in her belief that money market funds are risky and require more reforms beyond the changes to MMF requirements that the Commission signed off on in 2010. Among the options to increase money market fund resiliency that staff has been considering are mandating capital buffers accompanied by redemption limits or fees or transferring the funds from their fixed $1 net value asset to a floating one. <\/p>\n<p>However these reform measures, even without their formal proposal, are already being heavily criticized. Some are worried that the potential measures might cause investors to abandon the products and sponsors to leave the industry. These critics generally believe that the changes that were made to SEC regulations in 2010 have been sufficient to strengthen the funds&#8217; framework. For example, the Commission amendment to the 1940 Investment Company Act&#8217;s Rule 2a-7 improved fund disclosures while limiting fund risks.  <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-to-push-for-money-market-m\/\"  title=\"Continue Reading SEC to Push for Money Market Mutual Fund Reform Provisions Despite Opposition\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to Securities and Exchange Commission Division of Investment Management deputy director Robert Plaze, the division is ready to recommend new reforms for mutual market funds as soon as Chairman Mary Schapiro gives the go ahead. Plaze spoke to reporters following at panel at the Mutual Fund Directors Forum&#8217;s yearly policy conference in DC on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3885],"tags":[],"class_list":["post-1089","post","type-post","status-publish","format-standard","hentry","category-money-market-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC to Push for Money Market Mutual Fund Reform Provisions Despite Opposition &#8212; Investor Lawyers Blog &#8212; July 6, 2012<\/title>\n<meta name=\"description\" content=\"According to Securities and Exchange Commission Division of Investment Management deputy director Robert Plaze, the division is ready to recommend new &#8212; July 6, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-to-push-for-money-market-m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC to Push for Money Market Mutual Fund Reform Provisions Despite Opposition &#8212; 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