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Divided SEC adopts new rules for money market mutual funds
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Financial Stability
Saturday, August 2, 2014
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A divided Securities and Exchange Commission voted to adopt amendments to its rules governing money market mutual funds. The amendments, approved by the commission July 23 on a 3-2 vote, make structural and operational changes aimed at addressing risks of investor runs in MMFs. Approval of the final rule is a key milestone in what has proven to be an arduous regulatory process. Read on to learn about the final rule and why one commissioner could not support it.
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