Industry opposes SEC money-fund plan; Bernanke signals support

06/20/2013 | Bloomberg · Wall Street Journal, The

The Securities and Exchange Commission's proposal to tighten rules on money market funds is meeting resistance from industry groups. The proposal would impose a floating net asset value on the riskiest funds, but industry groups remain adamant that the measure would not address issues. Federal Reserve Chairman Ben Bernanke has offered tentative support for the plan. "We have not yet reviewed this in enough detail to give a view, but I know for sure that by putting out a floating-NAV proposal that they're moving in the right direction," Bernanke said.

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Bloomberg · Wall Street Journal, The

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