Money Market Fund Reform: Ongoing Debate Moves to the Hill

June 28, 2012
Money market funds remain at the center of a controversy regarding U.S. regulatory reform. As the Securities and Exchange Commission (SEC) reportedly moves closer to proposed rulemaking, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing to discuss the current state of the money fund industry and any potential reforms the SEC is considering. This update discusses the events that led up to the Senate Committee hearing, provides an overview of the reforms under consideration, and reports on the Senate hearing and what it may imply for the future of the money fund industry.