The SEC’s recent proposal for the money market fund reform should be the subject of House hearing in July, according to a Financial Advisor article. Rep. Scott Garrett (R-N.J.), chairman of the House Capital Markets Subcommittee, stated he was pleased that the reform does not include requirement for a capital buffer against losses and was the result of hard economic data with cost-benefit analysis.
On June 5, the SEC proposed structural reforms for money market funds. To read the Forum’s summary of the reform proposal, click here.