The financial press last Friday was full of headlines like the following: “NY Fed Report Advocates Limiting Some Money-Market Fund Withdrawals.” I had to stop and ask myself, “Why is this news?”
Floyd Norris’ column, “Money Market Funds and Their Allies Resist New Rules,” falls into the trap of concluding that money market mutual funds are banks. They’re not.
A recent DealBook column about money market funds distorts the truth and omits essential facts. We’d like to correct the record and review a few key points that the DealBook author, law professor Steven M. Davidoff, seems to have missed.
ICI Issues Statement on Appointment of Norm Champ as Director of the SEC’s Division of Investment Management Washington, DC, July 5, 2012 - Investment Company Institute President Paul Schott Stevens issued the following statement today on the appointment of Norm Champ as the next...
Independent Directors Council Statement on SEC Naming Norm Champ as Director of Investment Management Washington, DC, July 5, 2011 - Independent Directors Council (IDC) Managing Director Amy Lancellotta made the following statement today about the appointment of Norm Champ as the SEC...
Today the European Commission adopted a proposal for revisions to the Undertakings for Collective Investment in Transferable Securities (UCITS) framework, which governs cross-border retail investment funds in Europe.
No one with actual expertise in the money market could recognize the false picture of money market funds that the Wall Street Journal paints in a recent editorial (“A History of Money Funds,” June 22).
