FSOC is asked to step back from money-fund rules

02/22/2013 | Reuters

As the Financial Stability Oversight Council pressures the Securities and Exchange Commission to adopt rules for money market funds, a group of former SEC chairmen, commissioners and senior staff is asking the FSOC to take a step back. In a letter, the former officials ask the FSOC to "respect the jurisdiction, independence, subject-matter expertise and regulatory processes" of the SEC.

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