Fidelity Investments told the Securities and Exchange Commission on Friday that the investment company believes that the 2010 reforms made to money market funds were "sufficient," and that if the SEC decides to issue further reform proposals that they "be based on data and facts that are accurate and complete" and that Treasury, government and tax-exempt money-market mutual funds be exempt from any further reform.
Scott Goebel, senior vice president and general counsel at Fidelity, told the SEC in his Jan. 24 comment letter that Fidelity was responding to the SEC study issued last November on money-market funds that was requested by three SEC commissioners, Luis Aguilar, Troy Paredes and Daniel Gallagher.
All three commissioners told former SEC Chairwoman Mary Schapiro last year that they would not back her efforts to pass further money market fund reforms.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
