The Securities and Exchange Commission has proposed a significant overhaul of the money market mutual fund industry. The SEC's proposal would allow the value of the shares in certain funds to fluctuate rather than remain at a fixed $1 a share. SIFMA's Timothy Cameron said the association has concerns about a floating net asset value but that "... we are encouraged that the SEC has limited the scope of its proposal and believe that the imposition of redemption gates and fees is the most effective path forward." Read SIFMA's statement on the SEC's proposed rules.
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