Fund Directions - Money Funds May Face High Reserves

Money Funds May Face High Reserves

Robert Plaze Securities and Exchange Commission officials say they are having difficulties trying to hold the proposed liquidity levels for retail funds to the 15% originally proposed or the 20% for all funds suggested last March by the Investment Company Institute. Robert Plaze, associate director of the SEC's Division of Investment Management, told fund lawyers at a D.C. Bar Association gathering last month that what he saw instead was "very high thresholds" for both retail and institutional funds.

"If the SEC is having a hard time establishing what is the ...

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Money Funds May Face High Reserves