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FSOC to Meet on Money Market Fund Proposal

The Financial Stability Oversight Council (“FSOC”) is set to meet tomorrow (Nov. 13) at 2:30 p.m. to discuss recommendations to overhaul money market fund regulations.  It is still not clear whether the FSOC will be issuing a formal proposal at this time.  The webinar can be watched live here.

The SEC, which has primary jurisdiction over money market funds, has yet to make any official regulatory reform proposals.  Last August, SEC Chairman Mary Schapiro admitted she did not have the votes to put forward her reform package for public comment.  Since then, the SEC has reportedly been considering other options, although the Commissioners have not yet made any final decisions.