While some of the biggest providers of money market mutual funds have come out in support of the Securities and Exchange Commission's seismic reforms to the institutional side of the market, others are far from pleased.
The U.S. Chamber of Commerce made opposition to the new floating net asset value rule a top policy priority.
David Hirschmann, the president of the Chamber's Center for Capital Markets Competitiveness, says the "floating NAV" rule will not address the potential for a run on money-market funds, as the SEC intends the rule to do.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
