Results for "money market funds"

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SEC's White plays money market reform close to the vest

May 3, 2013

Making her first major public speech to an audience of mutual fund executives, Securities and Exchange Commission Chairman Mary Jo White said next to nothing about one of their biggest concerns — a regulatory revamp for money market funds....

Funds flowing from money markets into equities; bonds get some too

April 12, 2013

Optimism abounds among individual investors, which helps supports a case for another stock market milestone. As roughly $85 billion moved out of money market funds over the past three months, at least half went into equity mutual funds — a...

ICI criticizes risk council

January 27, 2013

The Investment Company Institute, the mutual fund industry's main trade group, last week said that federal regulators exceeded their legal authority in urging the Securities and Exchange Commission to overhaul rules for money market funds. The...

McNabb to FSOC: Forget funds

January 20, 2013

William McNabb, chief executive of The Vanguard Group Inc., wants the Financial Stability Oversight Council to stay out of the battle over money market fund regulation. “FSOC should not make recommendations to the SEC at this time,” Mr....

Vanguard boss to FSOC: Butt out

January 15, 2013

Vanguard CEO William McNabb published an open letter to the Financial Stability Oversight Council suggesting the regulator stay out of the ongoing battle over further regulation of the money market fund industry.  “FSOC should not make recommendations...

Money funds take the lead in reforms

January 13, 2013

Six big mutual fund companies last week agreed to disclose the daily NAV of their money funds, an unusual show of unity among rivals aimed at heading off the threat of stricter regulation. On Friday, Fidelity Investments, Federated Investors...

Fidelity could be latest to disclose daily NAVs of money funds

January 10, 2013

Fidelity Investments, the largest provider of money market funds, with $425 billion in assets, could be the latest company to start disclosing the net asset value of those funds daily. Stephen Austin, a spokesman, said the firm is strongly considering...

Three money fund giants embrace daily NAV

January 9, 2013

BlackRock Inc., Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. are shaking up the money market fund industry. The three companies, which rank in the top 10 in total money market fund assets, have begun -- or will soon begin -- publishing...

Panel approves money fund recommendations for public comment

November 13, 2012

A panel of federal financial regulators did on Tuesday what the Securities and Exchange Commission failed to do over the summer — release for public comment a proposal to reform money market mutual funds. The Financial Stability Oversight...

Bruce Bent, son cleared in SEC fraud case

November 12, 2012

The portfolio managers of the Reserve Primary money market fund, which famously “broke-the-buck” in 2008, were cleared of fraud in a federal civil trial on Monday. Bruce Bent and his son Bruce Bent II were charged by the Securities and Exchange...

Letters: Oct. 29

October 28, 2012

Contrary to what InvestmentNews suggests in the editorial “Time to brace for new money market rules” (Oct. 7), the radical changes to money market funds being promoted by SEC Chairman Mary Schapiro and Treasury Secretary Timothy Geithner...

Suddenly, money fund reform back in play

September 27, 2012

U.S. Securities and Exchange Commission member Daniel Gallagher, who helped derail efforts to tighten rules for money market mutual funds, said he would likely support a measure forcing the industry to abandon its marquee $1 share price. Requiring...

High-flying S&P 500 actually down last three years? Investors think so

September 18, 2012

Forty-three months into a bull market run and, it turns out, most investors still can't get over the severe beat down they experienced in 2008, when the S&P 500 Index fell by nearly 40%. According to Franklin Templeton, which is scheduled to...

No money fund victory lap for Federated's Donahue just yet

August 23, 2012

Christopher Donahue, chief executive of Federated Investors and one of the most outspoken critics of money market reform, isn’t breathing easy just yet. Mr. Donahue, along with the rest of the mutual fund industry, has been waging a nearly...

Is Mary Schapiro losing the war on money funds?

August 21, 2012

Christopher Donahue, chief executive officer of Federated Investors Inc. (FII), is sticking up for the family business when he defends money-market funds. Donahue, whose family-controlled firm has three-fourths of its assets in the cash-like...

Critics say floating NAV would sink money funds as retirement vehicles

August 21, 2012

Opponents of a pending money-market reform proposal from the Securities and Exchange Commission have opened up a new front in the war, asserting that it threatens retirement savings. In a letter to the SEC on Tuesday, a dozen organizations argued...

SEC stirs, money funds scramble

August 12, 2012

The glacial process of money market fund reform is finally starting to come to a head, but the largest asset managers have been hedging against their worst-case scenario for some time. The Securities and Exchange Commission this month is expected...

SEC: Fund firms got OK to bail out 155 money funds

August 10, 2012

Money-market fund companies obtained permission to support 155 of their funds during the financial turmoil of 2007 and 2008, and six more funds got the same go- ahead since the crisis, according to a list provided to Congress by the U.S. Securities...

Money fund firms hedging in case SEC breaks the buck

August 8, 2012

The Securities and Exchange Commission reportedly is set to vote this month on whether to propose further reforms to money market funds officially. But whichever way the vote goes, asset management firms have been busy hedging their bets. The...

Acid test? Lobbying dollars may neutralize Schapiro's money fund reform

August 1, 2012

Money-market fund companies have doubled lobbying efforts to convince regulators and lawmakers that they aren't a threat to the financial system. The money may have been well-spent. The 10 biggest money-fund managers and the Investment Company...

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