Results for "money market funds"

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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,...

Sen. Toomey: ‘Money funds are under attack'

February 8, 2012

With the SEC poised to propose money market fund reforms, Sen. Patrick Toomey, R-Pa., is warning that further regulation could doom the investment instruments. “I think that money funds are under attack,” Mr. Toomey, a member of the Senate...

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...

Money funds have biggest redemptions this year amid debt talks

July 29, 2011

Investors last week pulled more money from money-market mutual funds than any week this year as U.S. lawmakers failed to resolve the impasse over raising the debt ceiling. Withdrawals reached $37.5 billion, with about 70 percent of the redemptions...

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...

Six percent on checking? It's a 'slam-dunk' for yield seekers

June 23, 2011

Consumers may earn as much as 6 percent on certain U.S. checking accounts, a survey found. The so-called high-yield checking accounts earned an average 2.56 percent compared with 3.3 percent last year, said today. “It's...

Cash management that could crush money markets

June 5, 2011

Unless a 5-basis-point yield somehow sounds like a good deal, it might be time to start looking beyond the basic money market mutual fund. Whether it is a matter of yield or security, the market has stepped up with a variation on cash management...

Moody's wins praise for its tougher money fund ratings – but loses clients

May 26, 2011

Hats off to Moody's Investors Service for stepping up its ratings policies for money market funds — even though the move has cost the ratings firm some business. As Ignites reported yesterday, Moody's revised policy for rating money funds,...

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