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SEC Narrowly Adopts Money Market Fund Reforms

By ALM Staff | Law Journal Newsletters |
August 02, 2014

Years of debate between regulators and the securities industry dating back to the financial crisis came to an end on July 23 when the Securities and Exchange Commission (SEC) narrowly approved rules aimed at lessening the risk of investor runs on money market funds, Reuters reported.

The Commission approved the new rules in a 3-2 vote. Commissioners Michael Piwowar, a Republican, and Kara Stein, a Democrat, cast the two no votes.

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