Results for "money market funds"

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SEC to fund firms: Ixnay on the money fund complaints

March 19, 2012

Securities and Exchange Commissioner Elisse Walter would prefer firms keep their thoughts on money market fund reform out of the public eye. “For some reason, lately the topic of money market reform seems to be making all of us emotional,...

Get ready for $1,000 money market shares: ICI

March 19, 2012

Investors can say goodbye to $1 shares of money market funds and hello to $100 or even $1,000 shares — if the Securities and Exchange Commission requires the funds to float their net asset value, said Karrie McMillan, the Investment Company...

Schapiro: Industry 'hue and cry' won't kill money fund reform

February 24, 2012

Securities regulators are undeterred by the “hue and cry” raised by the $2.6 trillion money market industry against the Securities and Exchange Commission's plan to change the way the funds operate. Indeed, the agency will issue money market...

Stable value funds make hay off puny money fund rates

February 24, 2012

Though a number of stable value funds have closed down, a number of asset managers are looking to ramp up their presence in the space. J.P. Morgan Asset Management and Pacific Investment Management Co. LLC are sprucing up their stable value...

SEC must go slow on money fund reform

February 12, 2012

A week after Federal Reserve Chairman Ben S. Bernanke said that prudent savers could expect no relief from the Fed's low-interest-rate policy until at least 2014, the Securities and Exchange Commission is threatening to make things even tougher...

Reforms would hurt money funds, critics charge

February 12, 2012

The Securities and Exchange Commission is weeks away from issuing a proposal to reform money market funds — and likely months away from a final rule — but critics are already warning that new regulations could undermine the savings vehicles,...

Industry pushes back even before SEC makes money fund reform proposal

February 7, 2012

When the Securities and Exchange Commission releases proposed reforms to money market funds in the next several weeks, it will ignite an explosion of industry resistance. In fact, the sparks already are starting to fly. One expected reform is...

Big business to SEC: Lay off money funds

January 20, 2012

Several large corporations are urging the Securities and Exchange Commission to leave money market funds alone, arguing that any new regulations would crimp their ability to raise capital. In a speech last November to a meeting of the Securities...

New funds add yield

January 8, 2012

As 2011 wound down, Lee Munson saw an appropriate investment opportunity for many of his clients. But instead of drawing down their money market accounts, he tapped his clients' FDIC-insured bank deposits. Like many financial advisers and investors...

2011 good sign money market reform not needed: ICI

December 28, 2011

The past year has seen its fair share of market shocks, from the downgrade of the U.S. credit rating to the ongoing sovereign-debt crisis in Europe. Investors have felt the effects with wild swings in stock prices. One area that's held steady...

New SEC commissioner wants agency to slow down

December 14, 2011

It didn't take long for Daniel Gallagher, the SEC's newest commissioner, to disagree with the agency's chairman, Mary Schapiro. In a speech Wednesday in Washington, Mr. Gallagher said the Securities and Exchange Commission should not move too...

Capital buffer for money funds may be on the way

November 13, 2011

Regulators are closing in on new rules for money market funds that they have been hinting at for almost two years. Ever since the Securities and Exchange Commission made small reforms in February 2010, SEC officials have reminded the industry...

INsider: At current rates, money fund investors will double their money — in 2,000 years

November 9, 2011

It's time for investors and advisers to get real about money market funds — and either accept them or reject them for the investment vehicles they are. In times of higher interest rates, it might have been a different story. But right now,...

Backstop proposal for money funds on SEC front burner, says Schapiro

November 7, 2011

The Securities and Exchange Commission will issue a proposal within the next couple months to protect money market funds from the kind of default that forced one of them to break the buck during the financial crisis, SEC Chairman Mary Schapiro...

Pimco's Gross says bank fees to hold cash ‘unheard of'

August 5, 2011

Bill Gross, who runs the world's biggest bond mutual fund at Pacific Investment Management Co., said Bank of New York Mellon Corp.'s decision to charge clients for large deposits shows how the government's efforts to revive the economy are distorting...

Money funds get $38B deposits after debt-ceiling deal

August 5, 2011

Money-market mutual funds took in $24.9 billion yesterday, bouncing back from their second-worst week of withdrawals, as investors unsettled by the debate over raising the U.S. debt ceiling returned to the market. Investors, lead by institutions,...

Reserve's Bent named 'visionary' — despite fund collapse, SEC charges

August 3, 2011

Bruce R. Bent, credited with inventing the retail money-market fund before presiding over the industry's highest-profile collapse, was named one of 60 “visionaries” of the mutual-fund business. Bent and the others “helped to create the...

SEC wants money funds to buffer up: Sources

August 2, 2011

Money-market mutual funds would be forced to create capital buffers equaling 1 percent to 3 percent of assets to protect against losses under a plan now favored by staff at the U.S. Securities and Exchange Commission, according to three people...

Default, dear Brutus, could be bad news for money funds

July 27, 2011

The impasse in Washington over raising the federal debt ceiling has exposed U.S. money-market mutual fund clients to increased danger, according to Moody's Investors Service. “Direct risks include the potential for a missed interest or principal...

SEC's floating-NAV proposal slowly sinking

June 24, 2011

At a Financial Services Subcommitee hearing today, Republicans appeared to be backing away from a Securities and Exchange proposal that would force money-market funds to adopt a floating net asset value. That's a proposal the mutual fund industry...

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