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MFDF - Mutual Fund Directors Forum - House to Start Money Market Fund Reform Hearings in July

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House to Start Money Market Fund Reform Hearings in July

The SEC’s recent proposal for the money market fund reform should be the subject of House hearing in July, according to a Financial Advisor article.  Rep. Scott Garrett (R-N.J.), chairman of the House Capital Markets Subcommittee, stated he was pleased that the reform does not include requirement for a capital buffer against losses and was the result of hard economic data with cost-benefit analysis.

On June 5, the SEC proposed structural reforms for money market funds. To read the Forum’s summary of the reform proposal, click here.